Welcome to the website for LIBOR Bondholder Settlements, filed in the United States District Court for the Southern District of New York (the “Action”).
In 2023, the Court granted final approval to the settlements with Bank of Tokyo-Mitsubishi UFJ Ltd. (now known as MUFG Bank, Ltd.), Credit Suisse Group AG, and the Norinchukin Bank (the “Subsequent Settlements”) with aggregate dollar value of $1.749 million. The window for filing claims for these settlements has closed.
The Court granted final approval to settlements with defendants Barclays Bank, plc, UBS AG, HSBC Bank plc, Citibank, N.A. and Citigroup Inc., JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A., Bank of America Corporation and Bank of America, N.A., and The Royal Bank of Scotland Group plc in 2022. These settlements had an aggregate dollar value of $68.625 million (the “Initial Settlements”).
These ten banks are known collectively as the “Settling Defendants.” The Initial Settlements and the Subsequent Settlements created an aggregate Settlement Fund of $70.374 million.
In December 2021, the Court of Appeals upheld the District Court’s dismissal of the Bondholder Action on the merits, ending the case as to the remaining non-settling defendants. The Court has approved distribution for this matter which we anticipate to occur in early Q4 2024.