Developer Fights To Sue Lloyds Over Interest Rate Hedges

Law360, London (February 10, 2020, 6:55 PM GMT) -- A property investor suing Lloyds Bank over interest rate hedging products compensation told a London court Monday that he should be allowed to bring a lawsuit over the lender's claim handling because he did complain about the sale of two swaps during the review.

Clive Davis, a property investor, said that he expressed his dissatisfaction with two interest rate swaps he entered into with the bank in 2002 and 2005 to help finance a property development. He said his alleged complaint in 2013 triggered obligations for the bank to deal with his application for redress “fairly and consistently,” which it failed...

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