Swaps Litigation

The Case

Therium funded the claimant company’s claim against a major bank arising out of the claimant’s purchase of an interest-rate hedging product from the bank.

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.

Therium’s Solution

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.