RBS Sued Over £8M Loss In Hedging Products Tied To Libor

Law360, London (August 7, 2019, 5:56 PM BST) -- A trust company is suing Royal Bank of Scotland PLC for allegedly negligently selling it interest-rate hedging products tied to Libor that damaged its financial position and cost it millions of pounds on two investment properties.

Boyse (International) Ltd., a trust company registered in Gibraltar, is seeking £8.1 million ($9.8 million) in losses and damages it claims to have incurred as a result of interest rate hedging products it entered into with RBS in 2008.

The firm said in documents filed with the High Court on Aug. 1 that the bank breached its duties by misrepresenting the suitability of the financial...

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