RBS Settles Swap Misselling Suit Ahead Of Trial

Law360, London (December 11, 2019, 2:43 PM GMT) -- Royal Bank of Scotland PLC and a property investment company have ended a dispute over whether the lender improperly sold interest rate swaps that saddled the business with high fees for canceling its contract.

Master Julia Clark, sitting as a judge at the High Court, stayed the dispute between Sprint 1108 Ltd. and NatWest Markets PLC, formerly RBS, after they agreed to confidential terms, according to an order dated Dec. 5. The bank and the investment company can apply to enforce the terms of the agreement without launching a new case, Master Clark said.

The settlement ends a dispute over the...

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