Lloyds Bank Enters Out-Of-Court Talks To Settle Swaps Suit

Law360, London (August 15, 2019, 4:52 PM BST) -- The High Court in London has paused proceedings against Lloyds Bank until October to give the British lender a chance to resolve a dispute with a property investment firm out of court.

Lloyds Bank PLC has until Oct. 11 to settle with Rajan Investments (UK) Ltd.,which is suing the bank for damages, according to an order signed on Aug. 13 by a master of the court, a civil judge. Rajan claims that Lloyds sold it unsuitable swaps tied to the London Interbank Offered Rate, or Libor.

“The claim is stayed…to allow the parties to attempt to settle the dispute by alternative...

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