UK court to hear evidence ahead of landmark Libor ruling

LONDON: A British court will this week consider whether attempted manipulation of the benchmark interest rate Libor can invalidate loans and other deals or show that banks missold products that were based upon the rate.

The Court of Appeal will tomorrow begin a three-day hearing examining two separate cases brought by clients against Barclays and Deutsche Bank. It is expected to hand down a landmark ruling later in the year, according to sources familiar with the cases.