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Lloyds Bank Fights Church Group s Suit Over Swaps Deals
Law360, London (December 17, 2020, 7:29 PM GMT) Lloyds Bank PLC has denied giving misleading advice to a religious charity and three clergymen after it was accused of making false representations about millions of pounds worth of swaps linked to Libor years before the bank s involvement in the scandal was revealed.
Lloyds hit back at a lawsuit filed by three representatives of the Elim Foursquare Gospel Alliance a Pentecostal church organization seeking damages for deceit over claims the lender wrongly declared it would not try to manipulate a key interest rate benchmark.