Barclays PLC Faces Libor Claim In Landmark UK Court Case-Reuters


Wednesday, 24 Oct 2012 01:07pm EDT 

Reuters reported that Barclays PLC will face the first claim for damages stemming from manipulation of the Libor interest rate in a landmark case before Britain's High Court that could have major implications for all UK banks. Guardian Care Homes, a residential care home operator based in Wolverhampton, central England, is suing Barclays over the alleged mis-selling of interest rate hedging products known as swaps on which it has lost 12 million pounds ($19 million). 

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