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First LIBOR manipulation claim to be heard—all claims dismissed (Property Alliance v RBS)

First LIBOR manipulation claim to be heard—all claims dismissed (Property Alliance v RBS)
Published on: 22 December 2016
Published by: LexisPSL
  • First LIBOR manipulation claim to be heard—all claims dismissed (Property Alliance v RBS)
  • Original news
  • What are the practical implications of this case?
  • How did the various claims against RBS arise?
  • The Swaps Misstatement Claims—was there a duty of care and, if so, what was its extent?
  • The Swaps Misrepresentation Claims and the non-reliance provisions
  • The Swaps Contractual Claims—were terms to be implied?
  • The LIBOR claims—were representations and/or terms as to LIBOR to be implied?
  • Were there implied representations as to LIBOR, or, alternatively implied terms to this effect?
  • Reliance
  • More...

Article summary

Dispute Resolution analysis: In hearing the first of the LIBOR misrepresentation claims Mrs Justice Asplin, sitting in the Financial List, has dismissed claims for rescission and/or damages in respect of swaps entered into with RBS; dismissing submissions that the claimant had been induced to enter into the swaps as a result of implied representations or terms as to LIBOR and similarly dismissing claims based on misstatement and misrepresentation as to the swaps generally. Note: permission to appeal this decision has been given. or take a trial to read the full analysis.

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