Hotel Owner Widens Bank of Scotland Swap Misselling Suit

Law360, London (January 25, 2019, 5:14 PM GMT) -- An English hotel owner has broadened his damages claim against Bank of Scotland PLC over allegations that the lender missold him interest rate hedging products at the height of the financial crisis, adding new, higher figures to the court documents on the extent of his claimed losses.

In amended particulars filed with the High Court, Gurchan Atwal has inflated the amount of equity he claims to have lost as a result of the bank’s alleged breach of its duty of care, from £679,000 ($894,000)  to £925,000. He also added a new claim for loss of rental income amounting to £1.56 million....

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