Alastair Hudson analyses House of Lords’ decisions in interest rate swaps cases and suggests new ways in which the principles of equity might be applied to solve the problems which arise. Article by Alastair Hudson (Queen Mary, University of London) published in Amicus Curiae - Journal of the Institute of Advanced Legal Studies and its Society for Advanced Legal Studies. The Journal is produced by the Society for Advanced Legal Studies at the Institute of Advanced Legal Studies, University of London.