Hausfeld retained by Guardian Care Homes to sue Lloyds Bank for a second time

Hausfeld will face Hogan Lovells as its client Guardian Care Homes takes Lloyds Bank to court  over interest rates derivatives mis-selling, despite reaching a settlement with the bank in 2011 over Libor-rate manipulation claims.

The care homes operator is now asking for more than £8m from Lloyds in a consequential losses case, filed with the High Court in March.

Lloyds, which has instructed Hogan Lovells partner Andrea Monks for the claim, says it will argue that the 2011 settlement should be upheld, and the claims will be “vigorously contested” in court.

Hausfeld sued Barclays for Guardian Care Homes last year, settling for £40m. It was the third firm to take on the case, following Cooke Young & Keidan and the Wilkes Partnership.

Lloyds has until the end of April to file its defence. But if this dispute goes the way of the previous Libor battles, it may never get to court.

Also on TheLawyer.com:

Featured briefings
Bates Wells Braithwaite – The social media case files: tread carefully
Wragge Lawrence Graham & Co – Accountability April 2015: expert witness alert; Bannerman Disclaimer upheld; ADR and costs; and more
Walker Morris – New higher court fees: how can you minimise the sting?
The Sheriffs Office – Online dispute resolution – the future for civil claims
Ince & Co – Shipping: non-payment of hire – what can owners recover and how?