“In Jeffrey Jones v SoS for Energy and Climate Change [2012] EWHC 2936 (QB) the High Court considered the use of credit agreements between a law firm and its clients.”
New Law Journal, 13th May 2013
Source: www.newlawjournal.co.uk
“The first UK trial concerning the alleged fraudulent manipulation of Libor rates has been delayed until next year after Barclays won the right to challenge aspects of the high court case.”
The Guardian, 29th April 2013
Source: www.guardian.co.uk
“Following the announcement in June 2012 by the Financial Services Authority of a two month investigation in to the sale (and in particular mis-selling) of interest rate hedging products such as swaps, collars, structured collars there is considerable interest in whether such claims are likely, following Payment Protection Insurance, to become another key battleground in financial services litigation.”
No. 5 Chambers, 7th February 2013
Source: www.no5.com
“Last year I discussed Mr Justice Flaux’s decision in Graiseley Properties Limited and others v Barclays Bank plc [2012] EWHC 3093 (Comm) (see Littleton Comment on 4 December 2012). In that case Flaux J. had allowed amendments to plead fraudulent misrepresentation and breach of implied terms in relation to LIBOR which smoothed the path to claims which were, in essence, that the Bank had sold LIBOR-related products when it knew that its employees were attempting to ‘rig’ LIBOR rates for their own purposes (i.e. making their trades profitable) and that such conduct would disadvantage clients who relied on the Bank not attempting to manipulate LIBOR rates. Although I pointed out that allowing the amendments, which lacked the particularity to be expected, was unusual, I also observed that ‘This is a welcome and realistic approach to the difficulties faced by customers in claims against banks.’”
Littleton Chambers, 15th April 2013
Source: www.littletonchambers.com
“Royal Bank of Scotland (RBS) has been fined £390m ($610m) by UK and US authorities for its part in the Libor rate-fixing scandal.”
BBC News, 6th February 2013
Source: www.bbc.co.uk
“The Commercial Court has resisted an application to anonymise those individuals at Barclays involved in the LIBOR scandal.”
UK Human Rights Blog, 30th January 2013
Source: www.ukhumanrightsblog.com
“Barclays has been forced to reveal the identities of more than 100 employees who had been attempting to keep their names out of the public domain ahead of a case involving the alleged manipulation of the Libor rate.”
The Guardian, 24th January 2013
Source: www.guardian.co.uk
“Attorney General, Dominic Grieve QC MP outlined steps taken to prosecute economic crime at the Cityforum round table. Originally given at City of London Guildhall. This is the text of the speech as drafted, which may differ slightly from the delivered version.”
Attorney General’s Office, 21st January 2013
Source: www.gov.uk/ago
“More than 100 bankers have failed in a bid to prevent their names being revealed during preliminary hearings of a high court case centred on alleged rigging of the key London interbank offered rate (Libor) by Barclays staff.”
The Guardian, 21st January 2013
Source: www.guardian.co.uk
“Stephen Hester lays groundwork for penalties expected to be £500m or more.”
The Guardian, 20th January 2013
Source: www.guardian.co.uk
“Clear, unambiguous rules on the administration of, and submitting to, the London Interbank Offered Rate (LIBOR) and other benchmarks will be included in the regulatory handbook, the Financial Services Authority (FSA) has said.”
OUT-LAW.com, 6th December 2012
Source: www.out-law.com
“Administering and contributing to the London Interbank Offered Rate (LIBOR) will become a regulated activity, while criminal sanctions will be introduced for ‘misleading statements’ in relation to the benchmark, the Government has confirmed.”
OUT-LAW.com, 18th October 2012
Source: www.out-law.com
“Martin Wheatley’s 10-point plan includes stripping the BBA of its role and making Libor manipulation a criminal offence.”
The Guardian, 28th September 2012
Source: www.guardian.co.uk
“Martin Wheatley, FSA boss, says Libor is ‘no longer fit for purpose’ and intends to make Libor manipulation a criminal offence.”
The Guardian, 10th August 2012
Source: www.guardian.co.uk
“It is for European member states to determine how interest should be calculated on repayments of overpaid tax, the European Court of Justice (ECJ) has ruled.”
OUT-LAW.com, 19th July 2012
Source: www.out-law.com
“The Serious Fraud Office (SFO) has confirmed that it has formally launched a criminal investigation into the rigging of inter-bank lending rates.”
BBC News, 6th July 2012
Source: www.bbc.co.uk
“Britain’s most senior law officer has appeared to undermine the government’s own argument that any inquiry into the current banking scandal needed to happen as quickly as possible.”
The Guardian, 5th July 2012
Source: www.guardian.co.uk
“Prime Minister David Cameron has announced a parliamentary review of the banking sector in the wake of the Barclays inter-bank lending furore.”
BBC News, 2nd July 2012
Source: www.bbc.co.uk
“Banks faced fresh criticism about their treatment of customers on Friday after the Financial Services Authority said the big four high street banks – Barclays, RBS, Lloyds and HSBC – might need to compensate small business customers.”
The Guardian, 29th June 2012
Source: www.guardian.co.uk
“Pressure was growing yesterday for the bankers involved in interest-rate fixing to face criminal charges.”
The Independent, 2nd July 2012
Source: www.independent.co.uk
