Judge says RBS must face Libor claim over £55m loan

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 £55m 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.

By Braden Campbell (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....

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