Developer Urges Court To Revive Lloyds Rate Misselling Suit

Law360, London (March 30, 2021, 4:24 PM BST) -- A property investor told the Court of Appeal on Tuesday that his complaint to Lloyds Bank about his losses from two interest rate hedging products is valid under statute and should allow him to bring a damages suit against the lender.

Clive Davis is seeking to overturn a High Court decision from July, which found that he had not made a complaint about the swaps under the Financial Conduct Authority's dispute resolution rules and cannot sue the bank for breach of statutory duty.

David McIlroy, counsel for Davis, told the panel of three appellate judges that the lower court judge had misconstrued...

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