Stay of proceedings to allow FOS complaint
10 / 6 / 2016
Lloyd Maynard is successful in High Courtapplication for a stay of interest rate swap proceedings to enable claimants to pursue redress before the Financial Ombudsman Service. Burton J agreed that a stay of proceedings for 1 year would not cause the defendant banks prejudice and the Claimants could not be faulted for having issued proceedings close to the expiry of limitation.
A copy of the Lawtel summary is available here.