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Insolvent Spanish vehicle starts London swaps trial against “rotten bank”

By Benjamin Clarke

05 October 2018

Insolvent Spanish vehicle starts London swaps trial against “rotten bank” iStock.com/BrasilNut1

A property vehicle that entered liquidation in Spain three years ago has claimed before a UK court that almost €1.6 billion worth of interest rate swap contracts it entered into with a syndicate of banks are invalid due to EURIBOR rigging.