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Court of Appeal strikes out defences that funds' losses resulting from FX manipulation have been passed on to investors following redemption

Published on 06 May 2022. By Simon Hart, Partner and Christopher Wheatley , Senior Associate and Olivia Dhein, Professional Support Lawyer

In Allianz Global Investors GmbH & Ors v Barclays Bank PLC & Ors(1), the Court of Appeal allowed an appeal by the claimant funds (the Funds) and struck out defences by the Defendant banks (the Banks) that losses incurred by the Funds had been avoided or passed on upon redemption by their investors.

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