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Barclays has become the first bank to face claims in a British court that it manipulated the key interbank borrowing rate.
The bank is accused of fixing Libor to provide borrowing rates it knew to be incorrect, according to papers filed with the High Court by a care home operator. Graisley Properties and Graisely Investments, which own and run the 30-strong chain of Guardian Care Homes across the country, has issued legal proceedings against Barclays, in a £36m claim against the bank.
Investigators across the world, including the Financial Services Authority, the SEC in the US, as well as European, Canadian and Japanese regulators, are probing claims the world's largest banks, including Barclays, RBS and Lloyds Banking Group, suppressed Libor.....Read more here--: Barclays accused by Graisley Properties and Graisely Investments of manipulating Libor
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