Marz Ltd v Bank of Scotland Plc 5/12/17 (Comm)

The court held that the Bank did not owe a customer an advisory duty in respect of the sale of a swap entered into to hedge against interest on a loan from the bank. The ISDA terms governing the swap negated any duty of advice prevailed over any conflicting term in the bank’s terms of business. The bank did not assume a duty to advise as to the transaction or to better inform the client so that it could make the correct decision as to the suitability of the product.