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Clifford Chance

Clifford Chance

Briefings

A crown of thorns: misselling claim against bank fails

1 December 2015

Misselling claims against banks have a poor record in the English courts.  A few claimants have won, but most cases that have gone to trial in the last few years have proved unsuccessful.  A recent case has added to this record of failure.  The judge recognised that a bank selling interest rate swaps does not accept the responsibilities of an adviser just because it provides information about a swap and views on likely interest rate movements.  Further, the documentation for the swap was sufficient to prevent any liability arising.

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