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.

4.7out of 10
5-stars on Trustpilot Based on count 726

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

Top tips for buying or selling a care home

If you are buying or selling a care home there are several things that you can do to help the process run smoothly and make sure that you get the most out of the transaction. Register with the Care Quality Commission (CQC) If you are buying a care home...

Read more

Twitter commercial

@CommercialLLP

Stephensons appoints new family law solicitor

The national law firm, Stephensons, has appointed a new solicitor in its family law  department as the firm continues to experience growing demand for its specialist family law services. Rachel Benett joins Stephensons’ Manchester office...

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 Charnock​
  • Julie Hunter
  • Adam Pennington​​
  • Andrew Whitehead
  • Mark Williams​
  • Terri Meehan
  • Laurence Searle
  • Kenneth Tang
  • Neil Marshall
  • Declan Gilroy​
  • ​Kerrie Ainscough
  • Lucy Priestman
  • Matthew Smith