A trial date has been set for Richard Desmond's action against Credit Suisse in which he accuses the investment bank of misleading him over a £50m derivatives seal.
He alleges that the highly complex product was "incomprehensible" and that the bank made a series of misrepresentations as well as committing breaches of conduct of business rules.
According to The Lawyer report, the trial is listed for eight days beginning 2 December.
Desmond – whose Northern & Shell group owns the Daily Express, OK! magazine and Channel 5 – filed legal papers at the high court in August last year.
Desmond wants the 2007 deal, which involved a GLG Partners hedge fund, declared invalid and is seeking £19m in compensation - the alleged cost of unwinding the transaction.
