Lloyds Unit Faces Trial Over Investor's Swaps Loss Claims

Law360, London (February 5, 2019, 4:54 PM GMT) -- A London judge has given directions for a legal dispute between a property investor and a subsidiary of Lloyds Banking Group PLC over the alleged misselling of crisis-era interest rate hedging products to head to trial in 2020.

Judge Jonathan Klein said in an order filed with the High Court of England and Wales on Jan. 31 that the trial — which will deal with allegations The Bank of Scotland PLC failed in its duty to exercise "reasonable skill and care" when it sold a property investor two interest rate swaps in 2007 — should take place by April 10, 2020,...

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