The Securities Litigation Expert Blog

First Libor-Based Swap Case Filed in UK

Posted by Jack Duval

Oct 30, 2012 3:05:02 AM

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.

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Topics: Swaps, LIBOR, litigation, Guardian Care Homes, investments, Compliance, Barclays

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