Maud company loses €1bn swaps lawsuit

Property investor Glenn Maud has lost a High Court bid to claim almost €1bn from Royal Bank of Scotland. The case is “high-value and complex”, according to the judgment handed down by judge Mr Justice Picken this week. It is set against the backdrop of allegations of Euribor rate-rigging and a transaction that was “apparently Europe’s "largest ever property deal", according to the ruling. Maud and his business partner Derek Quinlan purchased the bank’s Spanish headquarters in 2009 through their investment vehicle Marme. The transaction was in part financed by a loan of €1.6bn euros from a group of lenders