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Disclosure Grows In Co.'s Swaps Suit Against Lloyds Bank

Law360, London (May 8, 2019, 8:21 PM BST) -- A property investment firm suing Lloyds Bank PLC for breach of contract could head back to a London court next month to hash out disclosure arrangements in the suit, which claims the bank sold it four unsuitable swaps tied to Libor.

Rajan Investments (UK) Ltd. is suing Lloyds Bank for damages, claiming that the bank lied about Libor and recommended the swaps when it knew there was "no logical reason" for their purchase. The firm, which invests in commercial and residential property, has also alleged the bank breached its duty by not making clear the breakage costs involved or the risks...

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