Court Stays 'Forced' Loan Suit For Sides To Reach Deal

Law360, London (May 14, 2018, 4:24 PM BST) -- A lawsuit accusing Clydesdale Bank PLC of forcing a British property investment firm to enter into costly loans in 2008 and 2011 has been stayed until May 31 to allow the two sides time to reach a settlement, an order issued at the High Court has revealed.

Judge Stephen Phillips ruled on May 2 that proceedings between Clydesdale and Milton Ashbury Ltd., which has fewer than 10 employees, should be stayed to allow both parties to “engage in correspondence and negotiation and otherwise, with a view to settling the claim or, at least, narrowing the issues between them.”

Clydesdale must serve its...

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