Aust lawyers look at Libor suit

LAWYERS are examining what losses have been suffered in Australia as a result of the Libor-fixing scandal rocking financial markets.

Regulators fined the British bank Barclays around $450 million for manipulating the Libor, a key international benchmark interest rate.

Slater & Gordon has told PM it is putting together a class action on behalf of businesses and investors who have used financial products that reference the Libor.

A practice group leader with the law firm, Van Moulis, says the losses in Australia are likely to be substantial.

"It would be very likely in the billions of dollars, the publicity coming out of the inquiry in England has estimated trillions of dollars worth of losses on a global basis," he said.

Read more at ABC news online.

Topics:  barclays, cash rate, interbank lending, libor rate



Local Real Estate

Featured Real Estate
FULLY SELF CONTAINED... $9500.00 From
Cabin $12.5K for 6 x 2.4 x 2.5m fully installed. D.I.Y $9.5k bare ...
OWNER WANTS THIS SOLD... $399,000
House 4 2 1
Bargain Priced Timber... $329,000
House 3 1 2
EXCELLENT STREET... $24960 including...
Commercial 0 0

Featured Jobs

Tweed jobs listed daily

Featured Jobs
Tradesperson, Panel... Toowoomba Full Time
Tradesperson, Panel... Toowoomba Full Time
Surveyor – Gold Coast Gold Coast Full Time
Volunteers Tweed Heads Part Time


Local Partners

LATEST DEALS AND OFFERS

Local Jobs

Search for your next job now!
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Property Listings

Search for a property online right now.
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

Horoscopes

Leo

Printing, the written word and other forms of marketing will help you today. Take out an ad if you need to get your services or product out...

read more

Marketplace

Special Offers & Promotions

Compare & Save