Fresh Libor claims may follow PAG appeal, but the clock is ticking

Potential consequences of PAG decision are far-reaching in scope and scale, says Simon Bushell at Signature Litigation

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Simon Bushell: the relevant limitation period is likely to expire after six years from the point at which fraud or concealment is discovered, or could have been discovered with reasonable diligence
Signature Litigation

Simon Bushell is a partner at Signature Litigation

The London interbank offered rate (Libor) scandal continues to resonate in English courts. The latest case to be heard by the Court of Appeal was brought by Property Alliance Group (PAG) against RBS over allegations the bank mis-sold interest rate swaps, entitling it to rescission of the swaps and/or damages. Three Court of Appeal judges, led by the master of the rolls, refused PAG’s appeal.

The case has a long history. PAG alleged RBS mis

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