Court could force Barclays to release Libor emails

Barclays could be forced to release hundreds of thousands of emails connected to attempts to rig Libor if the High Court allows a care home operator to pursue its claim against the bank that it knowingly sold interest rate derivatives while manipulating the world’s key borrowing rate.

Lawyers for Guardian Care Homes are set to claim in court on Monday that Barclays should provide full disclosure of emails connected toLibor-rigging, including names of bankers working for it and other banks implicated in the scandal, as part of the company’s £38m lawsuit against the lender.

If the High Court agrees to Guardian Care Homes’ request, the lawsuit is expected to become a test case for interest rates swaps mis-selling and Libor-rigging claims by thousands of small businesses and other customers of the major banks.

Disclosure could lead to as yet unidentified senior bankers connected to the scandal being named in court when the case comes to trial next year as Guardian Care Homes attempts to get millions of pounds of interest rate swaps it bought from Barclays in 2006 cancelled.

Read on.

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