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Developer Told To Spruce Up Lloyds Swaps Misselling Suit

Law360, London (February 27, 2019, 6:09 PM GMT) -- A London court has given a Yorkshire-based property firm just over a month to specify who it thinks lied or behaved fraudulently in its swaps misselling claim accusing Lloyds Bank PLC of forcing the company into administration.

A deputy master for the High Court said Jonathan Welsby, director of Bluesight Ltd., could have until April 19 to amend his lawsuit against the bank to identify individuals from Lloyds and specify exactly how they allegedly misrepresented interest rate swaps sold to the firm in 2008. 

Both Welsby and the bank may hire an expert to weigh in on alleged efforts to rig Libor, the benchmark interest rate for...

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