Lloyds Bank Slapped With Another Libor Swap Misselling Suit

Law360, London (July 14, 2017, 5:21 PM BST) -- Lloyds Banking Group PLC has been hit with a new swaps misselling claim linked to Libor rigging, filed at London’s High Court by the director of a Yorkshire-based property firm who alleges the bank breached contract terms that pushed the company into administration.

Jonathan Welsby, director of Bluesight Ltd., alleges the bank committed fraudulent misrepresentation when selling the firm an interest rate swaps contract in 2008 that was not suitable, according to a claim form filed in February and seen by Law360 on Friday.

Welsby alleges...
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