Currency Co. To Pay To Pursue RBS Forex Rigging Suit
By Bonnie Eslinger (September 13, 2021, 4:56 PM BST) -- A British currency investment firm suing the Royal Bank of Scotland and other financial institutions for allegedly manipulating foreign exchange markets has agreed to pay £425,000 ($588,000) in security to cover the bank's initial litigation costs.
The consent order approved by High Court Judge Kelyn Bacon on Wednesday says that the NatWest Group subsidiary asked for the security and The ECU Group PLC agreed to make the payment.
ECU, which helps companies manage debt in multiple currencies, is seeking unspecified damages for losses it says correspond to the wrongful profits RBS made from so-called stop-loss orders when providing forex services between...
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