- 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?
- Falsity and fraudulently
- Relief and loss
- Case details
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.
Sign in or take a trial to read the full analysis.
To continue reading this news article, as well as thousands of others like it, sign in to LexisPSL or register for a free trial