Lloyds Bank Must Provide Docs In £80M Misselling Suit: Firm

Law360, London (July 3, 2019, 9:40 PM BST) -- A Lloyds banking unit must hand over documents about a property portfolio it liquidated to cover debts from an investment firm now suing the bank for £80 million ($100.6 million) for allegedly misselling interest rate swaps, the firm told a London judge Wednesday.

Ventra Investments Ltd. sought documents at a hearing Wednesday that it says are relevant to its claims that Bank of Scotland sold unsuitable swaps and then sold off Ventra's properties for tens of millions of pounds less than they were worth. The property portfolio stood as collateral for loans the bank had issued to Ventra, according to court documents....

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