LONDON, Aug 23 (Reuters) – Royal Bank of Scotland has settled a legal case with a businessman who alleged that the bank caused his business to go bankrupt after forcing him to take out interest-rate hedging products while manipulating the benchmark.
Stuart Wall had been suing the state-backed bank in a claim worth about 670 million pounds ($857.27 million) after the demise of his Opal Property Group, which collapsed into administration in 2013.
“The action has been settled without any admission of liability by the bank,” Wall’s lawyers Hausfeld said in a statement. “The terms of the settlement are confidential.”
RBS issued an identical statement.
Wall had previously alleged his business was mis-sold interest-rate swaps and was also …
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