Recent (United Kingdom (UK)) Court of Appeal of England and Wales (EWCA) ‎Civil Division LIBOR opinion

The recent (United Kingdom (UK)) Court of Appeal of England and Wales (EWCA)Civil Division is:

Graiseley Properties Limited v. Barclays Bank Plc and Deutsche Bank v. Unitech Global Limited and Unitech Limited [2013] EWCA Civ 1372

In this opinion, on 8 November 2013, the EWCA upheld an earlier Commercial Court ruling (and overturned another earlier, conflicting decision) to hold that the claimants in interest rate swaps mis-selling litigation are entitled to amend their pleadings to allege LIBOR manipulation as well.

Both the Graiseley Properties and Unitech Global claimants assert claims that the two defendant banks mis-sold interest rate swaps, which swaps contained rates referenced to LIBOR.