Businessman Sues HSBC For £5M In Swap Misselling Case

Law360, London (March 30, 2021, 2:30 PM BST) -- A businessman says he is owed more than £5.1 million ($7 million) in damages by HSBC, claiming that he was forced to sell shares in a company and properties because of financial pressure caused by the bank's misselling of a swap contract.

Kai Midgley alleges in a High Court claim that the economic effect of HSBC Bank PLC selling him a swap he did not need in 2007 damaged the "profitability and viability of his property portfolio and his business and personal cash flow," according to his filing, dated March 10 but recently made public.

Midgley was told by the bank that...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!