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NLJ this week: Righting Libor wrongs

19 September 2025
Issue: 8131 / Categories: Legal News , Criminal , Fraud
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In July, the Supreme Court quashed the convictions of Tom Hayes and Carlo Palombo, ruling that trial judges had wrongly directed juries to treat profit-motivated Libor submissions as inherently dishonest. In this week’s NLJ, David Stern and James Fletcher of 5 St Andrew’s Hill reflect on the decision

The Serious Fraud Office (SFO) was criticised for its vague case and flawed expert evidence, while the Court of Appeal’s ‘cheapest rate theory’ was dismissed as a ‘blind alley’.

Stern and Fletcher, defence counsel in related trials, argue that the convictions were scapegoating tactics post-financial crisis, with no actual victims presented. They call for a public inquiry into broader justice failings and warn against proposals to remove jury trials in complex fraud cases.

The judgment is hailed as a vital reaffirmation of the jury’s role and a cautionary tale about conflating law with fact-finding.

Issue: 8131 / Categories: Legal News , Criminal , Fraud
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MOVERS & SHAKERS

Slater Heelis—Oliver Banks

Slater Heelis—Oliver Banks

Manchester firm strengthens Court of Protection expertise with partner hire

Talbots Law—Sara Pickerin & Nicholas Playford

Talbots Law—Sara Pickerin & Nicholas Playford

Agricultural law team expands with senior director appointments

Kingsley Napley—Claire Green

Kingsley Napley—Claire Green

Firm announces appointment of chief legal officer

NEWS
NLJ columnist Stephen Gold dives into the quirks of civil practice, from the Court of Appeal’s fierce defence of form N510 to fresh reminders about compliance and interest claims, in this week's Civil Way
Mazur v Charles Russell Speechlys [2025] EWHC 2341 (KB) has restated a fundamental truth, writes John Gould, chair of Russell-Cooke, in this week's NLJ: only authorised persons can conduct litigation. The decision sparked alarm, but Gould stresses it merely confirms the Legal Services Act 2007
The government’s decision to make the Financial Conduct Authority (FCA) the Single Professional Services Supervisor marks a watershed in the UK’s fight against money laundering, says Rebecca Hughes of Corker Binning in this week's NLJ. The FCA will now oversee 60,000 firms across legal and accountancy sectors—a massive expansion of remit that raises questions over resources and readiness 
The High Court's decision in Parfitt v Jones [2025] EWHC 1552 (Ch) provided a striking reminder of the need to instruct the right expert in retrospective capacity assessments, says Ann Stanyer of Wedlake Bell in NLJ this week
Paige Coulter of Quinn Emanuel reports on the UK’s first statutory definition of SLAPPs under the Economic Crime and Corporate Transparency Act 2023in NLJ this week
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