Hearing might prove crucial for future Libor cases

10/24/2012 | Reuters

In a preliminary hearing, Barclays will face a claim for damages from a care-home operator that alleges mis-selling of swaps by the bank because of manipulation of the London Interbank Offered Rate. Thousands of small U.K. companies think they were mis-sold swaps, and a ruling against Barclays could open the floodgates. Monday's hearing will determine whether the allegation has enough merit to go to trial.

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