Refusal to anonymise names in Barclays LIBOR case (Graiseley Properties v Barclays Bank plc)

Table of contents

• Practical implications
• Court details
• Facts
• Judgment

Article summary

Flaux J has dismissed a bid by current and former Barclays executives to preserve their anonymity at the interlocutory stage in the LIBOR—fixing litigation. The individuals failed at the first hurdle to establish clear and cogent evidence that such a derogation from open justice was strictly necessary to secure the proper administration of justice. There was no general exception to the principle of open justice that protects non-parties from identification in proceedings to avoid the risk of reputational harm. Anonymity would impede the proper preparation and presentation of the claimants’ case when there was a legitimate public interest in the true picture in relation to the manipulation of LIBOR by banks being capable of fair and accurate reporting in the media. Further, the order sought had been disproportionately wide. His judgment traces the rationale of the principle of open justice and its application both at national and European level.