Developer Can't Revive Lloyds Suit Over Misselling Review
Law360, London (April 16, 2021, 5:54 PM BST) -- An English appeals court ruled on Friday that a property investor cannot sue Lloyds Banking Group over its conduct during a review of interest rate hedging products bought in the mid-2000s because his complaint was invalid.
The Court of Appeal upheld a decision from July that threw out the lawsuit brought by Clive Davis against Lloyds Bank. The higher court ruled that the property investor's grievances did not comply with the regulatory definition of "complaint" in the Financial Conduct Authority's dispute resolution rules.
High Court Judge Sarah Worthington was right to find that Davis failed to meet the gateway requirements under the regime, the appeals...
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