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Barclays' Libor 'swaps' trial

Barclays is to face a full trial on 'swaps' based on Libor rates. A Wolverhampton-based care home operator will take on the banking giant in a landmark case at the High Court over claims it was mis-sold complex financial products.

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Barclays: 'We do not believe the case has merit'

The judge’s decision means these issues will need to be determined at a full trial in due course.

This business had a suite of advisors and a lot of financial experience and skill in-house.

We understand that Graiseley entered into their swaps with sufficient understanding to exercise their own judgment as to whether the products would meet its business objectives.

They are a significant business which owes Barclays £70 million. We do not believe the case has merit and will defend it.

– Barclays statement

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