Has LIBOR affected your business?

Here at Stephensons, we have a dedicated team of solicitors who are ready to take on your case against the LIBOR member banks, if the recent interest-rate-fixing scandal has had a detrimental effect on your business.

loading staff

What is LIBOR?

The London Interbank Offered Rate (LIBOR) is the interest rate at which banks lend to each other, and is set every business day, covering ten currencies and 15 timespans, from overnight to a year, based on the level at which banks were lending to each other on the previous day.

In June 2012, it emerged that member banks had been manipulating their submissions to LIBOR, deliberately understating their borrowing costs in order to mislead consumers, businesses and global markets about their financial position.

The major high street banks have already been hit with multi-million pound litigations for their role in the scandal, and now the businesses that have fallen victim to LIBOR manipulation may be able to launch their own lawsuits against the banks to recoup damages.

How can LIBOR affect businesses?

LIBOR can affect businesses of all sizes as it used as a reference rate for the financial products that these businesses may have been sold by the banks, such as mortgages and loans. If the banks have been manipulating their LIBOR submissions, then this will have a negative effect on the businesses who have been lending from them based on those rates.

If your business has been affected by the LIBOR scandal, and you think you may have a case for claiming damages against your high street bank, please get in touch today by calling 0203 816 9303 and a member of the Stephensons legal team can advise you on whether you have a valid case.

8.7 out of 10
Trustpilot logo4-stars on trustpilot Based on count 376

We're Great

It is our business to deliver legal services that work for our clients, and you can trust our specialists to take care of things on your behalf.

Our Trustpilot reviews

The situation was very personal and at times very distressing but Stephensons were extremely professional but also empathetic.
View from a commercial litigation client

Bribery case has implications for firms of all sizes

In a case which is the first of its kind and has implications for companies of all sizes, a small interior design company has been convicted under ‘failure to prevent bribery’ legislation.   The court was told that a former director of...

Read more

Twitter commercial

Stephensons shortlisted at The British Wills and Probate Awards

The national law firm, Stephensons, has been shortlisted in two categories at the British Wills and Probate Awards 2018. Stephensons is nominated for Solicitor Firm of the Year (Regional – North) and for Best use of Marketing and Social Media. ...

Read more

Commercial reorder

  • Jonathan Chadwick
  • Louise Hebborn
  • David Baybut
  • Kate Bullen
  • Chris Graves
  • Alistair Gregory
  • Philip Richardson
  • Julie Ball
  • Martha McKinley
  • Paul Davies
  • Jonathon Waterhouse
  • Jessica Culshaw
  • Matthew Halton
  • Julie Hunter
  • Adam Pennington​​
  • Andrew Whitehead
  • Mark Williams​
  • Neil Marshall
  • Declan Gilroy
  • ​Kerrie Ainscough

We're always here for you

As an award-winning top 150 law firm, with over 450 staff based in offices across the country, you're never far from the advice you need.

Find your nearest Stephensons office and arrange a meeting

As an award-winning top 150 law firm, with over 450 staff based in offices across the country, you're never far from the advice you need.