Bank Of Scotland Hits Back At Investor's £500M Libor Suit

Law360, London (June 25, 2019, 8:12 PM BST) -- A unit of Lloyds Banking Group has denied it misrepresented a series of Libor-linked swaps to secure a deal with a property investor, arguing in new court documents that the company would have entered into the transactions in any event.

Bank of Scotland PLC's June 21 filing rebutted Scarborough Group's claims that the lender fraudulently and negligently led it to refinance a series of loans between 2005 and 2011 with interest rates pegged to the London Interbank Offered Rate.

Scarborough and over 50 of its affiliates have claimed that the deals led to significant losses that forced the group to reduce...

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