Ex-Trader Cuts Insurance Argument From Libor Costs Suit

Law360, London (June 24, 2020, 6:16 PM BST) -- A former Rabobank trader has dropped his argument that the lender should have covered him under its directors and officers liability insurance policy for the costs he ran up during U.S. and British investigations that accused him of rigging Libor.

Anthony Conti, a former senior derivatives trader at Rabobank, filed a claim against the Dutch lender for the £285,000 ($352,000) that he forked out during proceedings brought by authorities from across the Atlantic, which alleged he rigged the London interbank offered rate. He brought the High Court case against the bank after a U.S. appeals court reversed his conviction and dismissed...

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