Tag: LIBOR Manipulation

westgate swaps mi-selling claim against RBS bank litigation uk solicitors

RBS settles mis-sold swaps litigation (Westgate Healthcare Ltd v Royal Bank of Scotland Plc)

Westgate Healthcare settled a legal dispute with RBS for £10m, involving alleged misrepresentation and breach of contract regarding an interest rate swap. Deemed too sophisticated for FCA’s compensation scheme, Westgate’s claim, initiated in April 2014, led to a settlement with RBS, who imposed confidentiality and accepted no liability.

Libor Fraud UK Litigation Solicitors

LIBOR fraud arguable in swaps mis-selling claims; Resetting the 6-year contractual limitation clock

The High Court ruled that fraud allegations against RBS concerning LIBOR manipulation in a derivatives mis-selling claim were “properly arguable,” affecting SMEs sold IRHPs by major banks. LIBOR, a crucial interest rate benchmark, had been rigged by banks including RBS, resulting in hefty fines. RBS admitted misconduct in its LIBOR submissions. Property Alliance Group’s (PAG) case against RBS may set a precedent for extending time limits on claims, emphasizing the importance of seeking legal advice on mis-selling claims affected by LIBOR fraud.

Graiseley Properties Ltd (Guardian Care Homes) v Barclays Bank PLC – LIBOR Manipulation Test Case

Application to amend particulars of claim – amendment to plead implied representations (alternatively implied terms) which induced claimants to enter into swap agreements – implied representations allegedly false…