Court of Appeal Reserves Judgment in IBOR Conviction Appeals

On Monday 18 March 2024, after three days of legal submissions, the Court of Appeal (Bean and Popplewell LJJ, Bryan J) reserved judgment in the appeals of Tom Hayes and Carlo Palombo.

The appeals, which follow referrals from the CCRC, arise from allegations of conspiracy to defraud in respect of the manipulation of LIBOR and EURIBOR respectively.  Mr Hayes was convicted in 2015 of eight counts of conspiracy to defraud and sentenced to a term of 14 years’ imprisonment (reduced to 11 years’ on appeal).

Adrian Darbishire KC and Tom Doble acted for Mr Hayes, instructed by Karen Todner Solicitors.

The case has been reported in the Financial Times, The Times and Law Society Gazette.