Tag: LIBOR

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High Court slams Dentons and RBS for “cavalier” attitude to disclosure

A Financial List judge has determined Dentons and Royal Bank of Scotland to be “cavalier” in failing to comply with a disclosure order handed down last year in…

Post date 4 August 2016
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Financial Services Litigation, GRG Review, Litigation
Tags Banking Law, Banks, Derivatives, Disclosure, Financial List, Financial Services Authority, Fraud, GRG, Hedging, Interest Rate Swaps, LIBOR, LIBOR Litigation, LIBOR Manipulation, Litigation, Unlawful Means Conspiracy, WestRegister

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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.

Post date 24 April 2016
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Derivatives, Financial Services Litigation, IRHP Reviews, Litigation
Tags Banking & Finance, Banking Law, Banks, Derivatives, FCA, Financial Conduct Authority, Financial Regulation, Financial Services, Financial Services Authority, FSA, Global Restructuring Group, GRG, Hedging, Interest Rate Swaps, IRHP, IRHPs, LIBOR, LIBOR Litigation, LIBOR Manipulation, Litigation, Mis-selling, RBS, Swaps Mis-selling, Swaps Settlements

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.

Post date 26 November 2015
Post author By Sivakumaran Sivathillainathan
Post categories In Banking Law, Borrower Protection, Financial Services Litigation, Fraud, Litigation, News
Tags Bank of Scotland, Banking Law, Banks, Barclays, Derivatives, Deutsche Bank, FCA, Financial Conduct Authority, Financial Regulation, Financial Services, Financial Services Authority, Fraud, FSA, Hedging, HSBC, Interest Rate Swaps, IRHP, IRHPs, JP Morgan, LIBOR, LIBOR Fraud, LIBOR Litigation, LIBOR Manipulation, LIBOR Rigging, Limitation Act, Litigation, Lloyds, Mis-selling, RBS, Swaps Mis-selling, UBS

Barclays’ appeal in ‘LIBOR test case’ dismissed by Court of Appeal

The Court of Appeal has today dismissed Barclays’ appeal in the case of Barclays Bank v Graiseley, which has been referred to as the ‘LIBOR test case’. The…

Post date 8 November 2013
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Barclays, Borrower Protection, Civil Litigation, Financial Services Litigation, LIBOR, LIBOR manipulation, Litigation
Tags Banking Law, Banks, Barclays, Derivatives, Deutsche Bank, Fraud, Hedging, Interest Rate Swaps, IRHPs, LIBOR, LIBOR Litigation, LIBOR Manipulation, Litigation, Mis-selling, Swaps Mis-selling, Unitech

The Banking Commission’s Proposals relevant to Swaps Mis-selling

The Parliamentary Commission on Banking Standards today publishes its Final Report – ‘Changing banking for good’. It outlines the radical reform required to improve standards across the banking…

Post date 19 June 2013
Post author By M Ali Akram
Post categories In Banking Law, Borrower Protection, Civil Litigation, Derivatives, Financial Services Litigation, IRHP Reviews, Litigation, News, Parliament
Tags Banking Law, Banks, Barclays Bank, Clydesdale Bank, Derivatives, FCA, Financial Ombudsman Service, Financial Regulation, Financial Services, FSA, Hedging, HSBC, Interest Rate Hedging Products, Interest Rate Swaps, IRHPs, LIBOR, LIBOR Litigation, LIBOR Manipulation, Lloyds, Mis-selling, Parliamentary Commission on Banking Standards, RBS, Swaps Mis-selling, Yorkshire Bank

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Barclays announce 2012 results – Provision for swaps mis-selling £850 million

Barclays Bank have today announced their results for 2012 [Barclays Bank Results 2012]. Barclays’ Announcement on Swaps Mis-selling (IRHPs or IRSAs) These deal with swaps mis-selling on page…

Post date 12 February 2013
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Barclays, Borrower Protection, Financial Services Litigation, News
Tags Banks, Barclays, Derivatives, Financial Regulation, Financial Services, Forex, FX, Hedging, Interest Rate Swaps, LIBOR, LIBOR Litigation, Litigation, Mis-selling, Swaps Mis-selling

RBS fined for LIBOR Manipulation; will lead to increased LIBOR Litigation

The Financial Services Authority (FSA) has today announced a fine of £87.5 million on RBS in relation to manipulation of the London Interbank Offered Rate (“LIBOR”). This…

Post date 6 February 2013
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, FCA, Financial Services Litigation, LIBOR, LIBOR manipulation, Litigation, RBS
Tags Banks, Financial Regulation, Financial Services, Financial Services Litigation, Hedging, Interest Rate Swaps, LIBOR, LIBOR Litigation, LIBOR Manipulation, Litigation, Mis-selling, Swaps Mis-selling

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…

Post date 5 November 2012
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Civil Litigation, Derivatives, Financial Mis-selling, Financial Services Litigation, LIBOR, LIBOR manipulation, Litigation, News
Tags Derivatives Mis-selling, Financial Services, Hedging, Interest Rate Swaps, LIBOR, LIBOR Manipulation, Litigation, Mis-selling

Clydesdale and Yorkshire Banks’ Tailored Business Loans – Terms of ‘Swaps Mis-selling’ Review

Information relating to Clydesdale and Yorkshire Banks Review of Interest Rate Hedging Products (12 October 2012) PDF DOWNLOAD IntroductionA. The ReviewB. The products that we have agreed to…

Post date 22 October 2012
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Derivatives, FCA, Financial Mis-selling, Financial Services Litigation
Tags Banks, Clydesdale Bank, Derivatives, Financial Services, Hedging, Interest Rate Swaps, LIBOR, Litigation, Mis-selling, Yorkshire Bank

The Manipulation of LIBOR by the Banks and the Impact on Interest Rate Swap Mis-selling Claims

The Financial Services Authority (FSA) have issued a press release indicating that Barclays Bank has been fined for the manipulation of global benchmark interest rates LIBOR and EURIBOR.…

Post date 27 June 2012
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Civil Litigation, Derivatives, FCA, Financial Mis-selling, Financial Services Litigation, Fixed Rate Loans, LIBOR, LIBOR manipulation, Litigation, News
Tags Banks, FCA, FSA, Hedging, Interest Rate Swaps, IRHPs, LIBOR, Mis-selling

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