Why It’s Significant
The claimant was treated as a ‘sophisticated borrower’ for the purpose of the relevant banking standards such that the case centred on broader allegations of LIBOR manipulation by the bank and its consequences for the product purchased by the claimant.
Whilst the claimant was sufficiently liquid to have funded the proceedings itself, it chose to utilise litigation funding to lay off the litigation risk.
The case settled on favourable terms to the claimant.
Breach of Contract
Financial Services / Banking