Barclays Settles U.K. Libor Case Weeks Before Start of Trial
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Barclays Plc settled the first U.K. lawsuit filed over allegations the bank manipulated Libor, weeks before the trial was scheduled to start.
Barclays agreed to restructure the debt of Graiseley Properties Ltd., which filed the lawsuit, as part of the settlement, Barclays said in a statement yesterday. The company, part of the Guardian elderly care homes group, was seeking to rescind interest-rate hedging contracts linked to Libor.