Alleged manipulation of LIBOR

Advised a global investment bank on the alleged manipulation of the LIBOR benchmark in private litigation brought in the UK Commercial Court. The claimant alleged that the bank manipulated the benchmark LIBOR rate in order to increase payments to the bank from the LIBOR-linked loan and swap arrangements sold to the claimant. The investigation involved detailed economic analysis of causes of movements in the LIBOR benchmark, the extent of possible coordination between LIBOR rate-setters, and the relationship between LIBOR and key macroeconomic variables over the period of the loan and swap arrangements and the key re-set dates.