– Barclays statement
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 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.