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Barclays told to hand over more names in UK Libor case
November 14, 2012 / 1:46 PM / 5 years ago

Barclays told to hand over more names in UK Libor case

Barclays bank headquarters in Canary Wharf, east London August 30, 2012. REUTERS/Olivia Harris/Files

LONDON (Reuters) - An English court has ordered Barclays(BARC.L) to hand over documents and details relating to 42 people in the country’s first lawsuit linked to alleged manipulation of global interbank lending rates.

Barclays, which was fined $450 million in June by U.S. and UK authorities after admitting to rigging the Libor interbank lending rate, has already submitted a list of 25 staff names to the UK High Court in the case brought by Guardian Care Homes.

But the residential care home operator had demanded greater disclosure as it sues one of Britain’s biggest banks for up to 37 million pounds over alleged mis-selling of interest rate swaps, which were based on Libor.

Justice Julian Flaux said on Wednesday Barclays will need to search the electronic communications and documents of all 42 people. The bank must also hand over other relevant documents, including audio files, compliance materials, seating plans and organisation charts.

Writing by Sinead Cruise, editing by Kirstin Ridley

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