Law360, New York (April 25, 2016, 9:14 PM EDT) -- A U.K. High Court judge said Monday that accused Libor rigger The Royal Bank of Scotland must face a claim tied to its handling of a distressed £55 million loan to a now-bankrupt property management company, in a suit alleging the bank induced the company to buy a Libor-tied interest rate swap in bad faith.Declining the bank’s push to strike a claim that it violated an implied agreement to act in good faith when it transferred the distressed loan to its Global Restructuring Group, High Court Judge Sarah Jane Asplin said the bank failed to show that the deed of... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
A New York judge has ruled that the Royal Bank of Scotland (RBS) must face claims in court that ties it to its handling of a distressed ££55 millionm loan to the now-defunct property management company, Global Restructuring Group, in a lawsuit accusing the lender of inducing the firm to buy a Libor-tied interest rate swap in bad faith.