The claimant, Thornbridge Limited, seeks damages for losses which it alleges it suffered as a result of entering into an interest rate swap with Barclays Bank PLC in 2008. The claimant alleges that the defendant was negligent and/or in breach of contract and/or in breach of statutory duty in respect of information and advice given to the claimant in relation to the swap.
Held: The claim failed: ‘This is in my view a case based on hindsight and a loan agreement which did not operate as the parties intended. As I have found on the evidence before me, it is not a case of a claimant being advised to enter, or being misled into entering, into a swap which in the circumstances was unsuitable. ‘
Moulder HHJ
[2015] EWHC 3430 (QB)
Bailii
England and Wales
Updated: 16 October 2021; Ref: scu.556970