UK Councils Sue Barclays Over Costly Loans Linked To Libor
Law360, London (February 1, 2019, 7:12 PM GMT) -- Seven local U.K. councils have sued Barclays Bank PLC over hundreds of millions of dollars of complex bank loans sold before the financial crisis that were linked to an interest benchmark allegedly rigged by several major banks, including Barclays.
Barclays Bank has been hit with a suit by seven local U.K. authorities over complex bank loans sold before the financial crisis that were linked the London Bank Interbank Offered Rate, an interest benchmark that was rigged by several major banks. (AP) The local authorities, including Greater Manchester and Leeds, filed a suit at London’s High Court on Jan. 25, over so-called lender-option,...
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