RBS Sued by Bankrupt Student Housing Firm Over Libor Rigging
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The owner of a bankrupt student housing company sued Royal Bank of Scotland Group Plc, saying the lender sold hedging products linked to Libor while trying to rig the interest-rate benchmark.
Stuart Wall, owner of Opal Property Group Ltd., added the Libor allegations to an existing lawsuit, according to documents filed at a London court in June and released this month. It’s at least the third U.K. case where bank clients have sought damages based on benchmark manipulation.