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Property Alliance Group v RBS (2018) EWCA Civ 355
Shail Patel discusses the Court of Appeal’s decision in Property Alliance Group v RBS (2018) EWCA Civ 355. The outcome is a decisive victory for RBS over PAG. However, the door has undoubtedly been opened for other potential claimants.
While the CA also made some significant findings on the bank’s advisory duties and implied contractual terms, this article focuses on LIBOR and benchmarks. Many negligence and contract claims arising out of swaps mis-selling are likely to be statute barred under the Limitation Act 1980.