Banks face claims of mis-selling

Customers of Irish banks have taken cases against their lenders for mis-selling of interest rate swaps valued at almost €150m.

Solicitors McHale Muldoon predict a wave of litigation against the banks for mis-selling interest rate hedging products such as swaps, caps, and collars.

The owners of the Belgard Retail Park in Dublin are suing Ulster Bank Ireland over alleged mis-selling of derivative loan facilities or swaps totalling almost €54m.