News & Events
News & Events
The Birmingham Mercantile Court recently refused an application by Barclays for an indefinite stay of proceedings in an interest rate swaps mis-selling case brought against Barclays Bank plc. Graiseley Investments Limited & Ors (the Guardian Care Group) v Barclays is notable as the first case in the UK which pleads Libor misrepresentation (issued in April 2012). Barclays sought to defer pleading a defence to the claim, and pause proceedings generally, until such time as a ‘redress’ scheme, the fact of which has been agreed between the FSA and number of banks including Barclays, had run its course. The precise details of the scheme are as yet unpublished. The scheme is itself unusual for the fact that it is not one…
News 2 Sep, 2012
Robert Rhodes QC was interviewed by Al-Jazeera’s English channel about the Barclays scandal regarding the fixing of Libor and Euribor rates, which resulted in regulatory fines of nearly £300M on the bank.
News 27 Jun, 2012
The judgment in Shah v HSBC Private Bank is now out. After three interlocutory appeals in the Court of Appeal in which the Bank largely succeeded, they have now succeeded completely at trial. Richard Lissack QC and Nicholas Medcroft acted as Leading and Junior Counsel for the Bank. The Claimants put their claims for in excess of $300,000,000 on two bases: first, that the Bank was in breach of contract in failing to process their payment instructions; second, that the Bank was in breach of contract in failing to provide them with information as to the facts that had caused it to fail to effect the first and second transactions, documentary evidence of the same, the name of the authority…
News 15 May, 2012
