My comments here must not be construed as a legal opinion, but instead some practical observations based upon examining a few cases in their early stages. The issue here is that many lenders have been providing commercial loans to SME’s with a fixed rate of interest to protect the borrowers of course against rising rates. Read more about Is a ‘fixed rate commercial loan’ actually a loan with an embedded swap?[…]

There continues to be very patchy coverage of the progress and outcomes of Interest Rate Hedging product reviews. The impression would be that the majority of cases have gone through the FCA approved process to have the facts reviewed by an independent reviewer and for compensation to be paid where appropriate. Many of those initial Read more about SWAP cases – recent developments[…]

We continue to selectively support SME clients in their dealings with banks on Interest Rate Hedging Products (SWAPS) although most of the cases coming up now involve their consequential loss claims. However the focus of the media and the lawyers is now shifting to Forex Derivatives, not least with the unfolding story about how Local Read more about Forex Derivatives: interesting developments[…]

There is nothing like a deadline! In the penultimate month for applications for the Growth Voucher Scheme the number of applicants was 927, in the final month this went up to it’s peak of 5,594 as businesses tried to get in before the final deadline of 31 March. No more applications will be accepted for Read more about Growth Voucher Scheme – success? What of the future?[…]