Co-op Bank Settles Hotel Fee Fight With Asset Manager

Law360, London (December 20, 2019, 6:30 PM GMT) -- The Co-op Bank has settled a lawsuit brought by a U.K. asset manager accusing the lender of cutting it out of a hotel development project, avoiding a trial that had been due to take place in July 2020.

Co-operative Bank PLC agreed to a confidential settlement with Astra Asset Management UK Ltd.on Dec. 13, according to a Tomlin order signed by High Court Judge Andrew Barker on Wednesday. The order allows companies in litigation that have reached an out-of court agreement to enforce the settlement without starting new action.

The settlement ends the legal dispute over the sale of the Co-op Bank’s...

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