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Court dismisses misselling swaps claims against RBS

The London High Court dismissed claims by Property Alliance Group that Royal Bank of Scotland Group Plc caused losses to the real estate company by misselling interest rate swaps and LIBOR manipulation, City A.M. reported Dec. 21.

Property Alliance Group was suing RBS for more than £30 million in damages. The property company had claimed that it was missold four interest rate swaps, when the lender's key officials knew that LIBOR was being rigged, and was wrongly put into RBS' global restructuring group.

Property Alliance Group will consider the judgement in detail to assess the possibility of an appeal, according to the report.