First Libor-Based Swap Case Filed in UK

Reuters reports that Guardian Care Homes is suing Barclays over Libor-based interest rate swaps.  (Reuters)  Although it is a small claim of $59 million, it has big implications and will be watched carefully.

The article has one staggering fact:

Britain’s financial regulator has estimated that about 44,000 interest rate swaps have been wrongly sold to UK companies since 2001.

 

Posted on October 30, 2012 in Compliance, Investments, LIBOR, Litigation

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