Lloyds Unit Says Gov't Libor Deals Don't Apply In £500M Suit

Law360, London (February 4, 2020, 7:00 PM GMT) -- A Lloyds Banking Group unit is arguing that conclusions made by U.K. and U.S. authorities in the Libor manipulation cases were not admissible or relevant in a London lawsuit brought by property investors challenging swaps allegedly tainted by the rigged benchmark.

In a Friday letter from Hogan Lovells, which represents Bank of Scotland PLC in the litigation, the bank responded to a request for information from Scarborough Group. The property investor claims in its High Court suit that the lender fraudulently and negligently led it to refinance a series of loans between 2005 and 2011 with interest rates pegged to the...

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