Barclays, Deutsche Bank Lose Bid to Halt U.K. Libor Suits
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Deutsche Bank AG and Barclays Plc lost a court bid to stop companies from linking claims about the manipulation of benchmark rates to lawsuits initially filed over improper sales of interest-rate hedging products.
The U.K. Court of Appeal in London said Unitech Ltd. and Guardian Care Homes could try to void money-losing swap contracts because they were pegged to the London interbank offered rate. The ruling resolves split decisions from lower courts.