Lloyds Hits Back At £8.5M Claim Over Libor Swaps

Law360, London (June 30, 2020, 8:24 PM BST) -- The former chairman of a British-based mining investment company does not have a right to sue Lloyds Bank PLC over millions of pounds worth of swaps linked to Libor, the lender argued as it denied engaging in deceit or misrepresentation.

Lloyds Bank has hit back at a lawsuit filed by Robin Woodbine Parish, who was chairman of El Oro Mining and Exploration Co. Parish says he was assigned the rights to bring a claim in relation to any dispute arising out of the swaps.

But Lloyds argued that Parish is not a shareholder in El Oro and has no "genuine commercial...

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