RBS Must Disclose Swaps Review Info Ahead Of October Trial

Law360, London (February 7, 2019, 9:59 PM GMT) -- Royal Bank of Scotland PLC has been ordered to disclose information it used in the review of interest rate hedging products it sold to a property investment company that led to the client being on the hook for breakage costs, ahead of a London trial later this year.

RBS will face trial in the High Court between October and November on claims it missold property investment firm Sprint 1108 Ltd. interest rate swap products by misrepresenting the costs involved with breaking the contract, according to an order signed by court official Master Julia Clark on Tuesday.

“The defendants' standard disclosure shall include disclosure...

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