Newham to appeal LIBOR loan ruling

By Martin Ford | 27 April 2021

Newham LBC has been granted permission to appeal after a bid to sue Barclays over loans was rejected by a High Court judge.

The London borough was among eight councils that claimed lender option borrower option loans, taken out between September 2006 and November 2008, were ‘tainted’ by the LIBOR rigging scandal.

Barclays was among the major lenders fined by regulators in 2012 for manipulating LIBOR (London Interbank Offered Rate) interest rates in their favour.

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