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Interesr Rate Swaps


papadak
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Hello Forum,

 

Does anyone have any experience to share here re Interest Rate Swap Agreement. A business friend who's been mis-sold a swap is going to a meeting with his Banks Lawyers in May.

 

Is this advisable or should they only accept questions in writing? They are due a re-dress I guess based on what's occurred etc.

 

Any thoughts welcome to pass on ...

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I wouldnt go and see their lawyers in person without a lawyer of my own. Get them to make an offer, it can be without prejudice if they wish but at least he will know what level of compensation they are thinking about. If he turns up they will claim they have assessed his business and investment knowledge and say that he should have been aware of his commitments etc and therefore he knew the risks and no money for him.

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