The claimants sought damages alleging that the defendant bank had manipulated the LIBOR bank rate whch was used to set interest rates on its loan. The defendant sought guidance as to the form to be taken by its electronic disclosures, and an order whereby the names of individuals involved in alleged manipulation of LIBOR only be referred to in open court both at the interim stage and at trial using a code.
Held: The order was rejected being an unwarranted derogation from the principles of open justice. There was an obvious and compelling public interest in establishing the true extent to which financial institutions had been engaged in the manipulation of LIBOR.
Judges:
Flaux J
Citations:
[2013] EWHC 67 (Comm)
Links:
Citing:
See Also – Graiseley Properties Ltd and Others v Barclays Bank Plc ComC 29-Oct-2012
The claimant sought damages alleging that the wrongful manipulation of the LIBOR interest rate by the defendants had caused them losses. Loan facilities which they had taken out had been subject to interest rates set by reference to LIBOR. The . .
Cited by:
Cited – Property Alliance Group Ltd v The Royal Bank of Scotland Plc ChD 19-Feb-2015
The claimant said that interest rate manipulation by the defendant bank had caused it losses in interest rate derivatives and SWAP agreements. In the course of that the claimants sought disclosure of internal documents. The defendants resisted . .
Lists of cited by and citing cases may be incomplete.
Torts – Other, Banking, Litigation Practice
Updated: 13 November 2022; Ref: scu.470560
