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UK judge paves way for judicial review of mis-sold swaps compensation scheme

Reuters - UK Focus

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LONDON, April 24 (Reuters) - Britain's High Court on Friday granted a request for permission to bring judicial proceedings relating to a scheme set up by Britain's financial regulator to compensate small firms mis-sold interest rate hedging products.

Judge Kenneth Parker granted an application for a judicial review of the compensation scheme filed by law fim Mishcon de Reya on behalf of its client Holcroft Properties, a nursing home operator, in a case relating to the alleged mis-selling of interest rate swaps to the company by Barclays (LSE: BARC.L - news) .

(Reporting By Matt Scuffham, editing by Sinead Cruise)