LIBOR litigation: customers win on appeal
Graiseley sued Barclays on the basis there was an implied term that there would be no manipulation of LIBOR. In the separate litigation between Deutsche Bank and Unitech the customer made similar claims. There was a separate issue in that case concerning the effect of novations of participations in the syndicated loan on Unitech’s ability to make certain claims against Deutsche Bank.
The Court of Appeal swept away any obstacles to the customers having a chance to establish their claims at a full trial…
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