News

In the proceedings initiated by the Foundation before the Amsterdam District Court, the Court rendered its judgment on 9 December 2020. The Court denied standing to the Foundation. The Foundation has appealed this decision on 6 March 2021.

In a prior interim judgment on 14 August 2019, the motion to stay the proceedings lodged by defendant Coöperatieve Rabobank U.A. (and supported by the other defendants) was dismissed and the Court partially accepted jurisdiction over the claims that the Foundation brought against the non-Dutch defendants Lloyds Bank PLC, UBS AG, UBS Securities Japan Co. LTD and ICAP Europe LTD insofar as these claims pertain to Yen LIBOR manipulation. Claims against holding companies Lloyds Banking Group PLC and ICAP PLC have been dismissed. The 9 December 2020 judgment can be found here, in Dutch: https://uitspraken.rechtspraak.nl/inziendocument?id=ECLI:NL:RBAMS:2020:6122 The 14 August 2019 interim judgment can be found here, in Dutch: https://uitspraken.rechtspraak.nl/inziendocument?id=ECLI:NL:RBAMS:2019:5827

The Foundation’s appeal will include the Foundation’s claims against Coöperatieve Rabobank U.A. in full and the claims against Lloyds Bank PLC, UBS AG, UBS Securities Japan Co. LTD and ICAP Europe LTD regarding the Yen LIBOR manipulation.