Published on: 24 July 2025
Published by an LexisNexis Financial Services expert
Ex-UBS trader Hayes was found guilty for manipulating the London Inter-Bank Offered Rate (LIBOR) in 2015. LIBOR was designed to indicate banks’ costs of lending to one another. The Financial Conduct Authority phased it out and, by 2024, it had ceased being used. On 23 July 2025, his conviction was quashed, as was that of ex-Barclays trader Carlo Palombo, who had been convicted in 2019 for manipulating Euribor, the European counterpart. Hayes spent five and a half years in prison following convictions on multiple counts of conspiracy to defraud through LIBOR manipulation. He first received a 15-year sentence, cut to 11 on appeal. He has spent the past ten years seeking to clear his name. He was among 20 traders prosecuted by the SFO; seven were found guilty at trial and another two entered guilty pleas. In 2023, the Criminal Cases Review Commission (CCRC) referred Hayes’ case back to the Court of Appeal. The CCRC, which probes suspected miscarriages of justice, said that after US courts had overturned comparable rate-rigging convictions, there was a real prospect UK courts would do likewise. However, in March 2025 the...
When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...