WebSify
Follow us on
Mail
Print

Barclays told to hand over more names in UK Libor case

Source : REUTERS
Last Updated: Wed, Nov 14, 2012 13:50 hrs
Barclays bank headquarters in Canary Wharf

By Steve Slater

LONDON (Reuters) - An English court has ordered Barclays to hand over documents and details relating to 42 people in the country's first lawsuit linked to alleged manipulation of global interbank lending rates.

Barclays, which was fined $450 million in June by U.S. and UK authorities after admitting to rigging the Libor interbank lending rate, has already submitted a list of 25 staff names to the UK High Court in the case brought by Guardian Care Homes.

But the residential care home operator had demanded greater disclosure as it sues one of Britain's biggest banks for up to 37 million pounds over alleged mis-selling of interest rate swaps, which were based on Libor.

Justice Julian Flaux said on Wednesday Barclays will need to search the electronic communications and documents of all 42 people. The bank must also hand over other relevant documents, including audio files, compliance materials, seating plans and organisation charts.

(Writing by Sinead Cruise, editing by Kirstin Ridley)




blog comments powered by Disqus
most popular on facebook
talking point on sify news