Morgan Stanley Challenges Standing In Investor Swaps Claim

Law360, London (June 5, 2019, 6:44 PM BST) -- A London judge paused a dispute on Wednesday between Morgan Stanley and a firm acting on behalf of an Irish property investor over the liability of swap breakage costs, after the bank argued that the firm did not have any legal right to bring the claim in the first place.

Judge Mark Pelling gave LIT Securities Ltd. four weeks to come up with evidence that the cause of action supporting its claim against three Morgan Stanley units for deceit and negligent misstatement was transferred to it in April 2017 as it alleges.

At the center of the suit is an agreement...

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