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Bark&co represents brokerage manager in relation to LIBOR

17.11.2014

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Bark&co now are now representing a client in relation to the SFO LIBOR criminal investigations (London Interbank Offered Rate).

The SFO allege that a number of banks have colluded in the false reporting of the interest rates that they were actually paying, or that they expected to pay for borrowing from other banks. These inter-bank interest rates levels were reported to Reuters each business day and then to NYSE Euronext, who have operated LIBOR since January 2014.

The interbank bank rate is used as an important market indicator towards the confidence of the financial sector and indicator credit risks that underpins $350 USD worth of derivative contracts and other loans and financial instruments within the global financial market.

Speaking through Bark&co, our client Noel Cryan has made the following comment:

“I have fully cooperated with the S.F.O in their investigation. I am therefore shocked and disappointed that I have been charged in relation to this matter. I have never manipulated or attempted to manipulate LIBOR. I intend to vigorously pursue every avenue to clear my name and prove my innocence.”

 

Senior Fiona Gavriel with Paul Lennon of Bark&co are leading this matter with Counsel Simon Baker of Goldsmiths chambers instructed.