£30m claim in relation to mis-selling of LIBOR referenced interest rate swaps

By Signature Litigation
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Signature Litigation

Signature represented Desiman Limited, a property company, against Bank of Scotland Plc, HBOS Treasury Services Limited and Lloyds Bank Plc in a claim for around £30m for mis-selling of LIBOR referenced interest rate swaps, LIBOR manipulation and wrongful appointment of administrative receivers. The closely watched claim raised complex and novel issues on the breach of duty aspects, and was one of the most advanced claims against Lloyds on the LIBOR aspects, with potentially significant implications for the banking sector and other customers impacted by such practices.

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