Morgan Stanley Urges Judge To Toss Investor’s Swaps Claim

Law360, London (March 10, 2020, 9:17 PM GMT) -- Morgan Stanley asked a London judge Tuesday to dismiss a lawsuit over £14.5 million ($18.7 million) in swap breakage costs charged to a property investor, calling it a simple contract matter with a loan agreement that allowed for the interest hedging arrangement.

Matthew Cook of One Essex Court, acting on behalf of three Morgan Stanley units, also urged the court to deny a request from LIT Securities Ltd., which is acting on behalf of the now-defunct property company, to amend its claim against the lender.

“This is a mess of a claim,” Cook said. “The fundamental point is one of contractual...

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