The Business Law Reports
[2019] Bus LR 129
Court of Appeal
Elite Property Holdings Ltd and another v Barclays Bank plc
[2018] EWCA Civ 1688
2018 June 21;
July 17
Lindblom, Flaux LJJ
Financial services— Redress— Hedging products— Claimant companies entering into interest rate hedging products with bank— Bank agreeing with Financial Conduct Authority to review its sale of hedging products under agreement expressly excluding third party rights and to offer appropriate redress to customers— Bank offering limited redress to claimants for consequential loss— Claimants commencing proceedings against bank and subsequently seeking to amend pleadings to include claim of breach of contractual duty to investigate consequential loss— Whether bank carrying out review of sale of hedging products as required by Financial Conduct Authority owing contractual duty to customer in relation to conduct of review