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Bluecrest LIBOR suit dismissed

First Published 28th September 2017

Former hedge fund was accused of helping to manipulate LIBOR

A judge in New York has this week dismissed a suit that accused Bluecrest, formerly a hedge fund and now a family office, of helping to manipulate Swiss franc (CHF) LIBOR in conjunction with a number of banks.

The suit had been brought by Sonterra Capital, a hedge fund that was based in New York and closed in 2012. The firm alleged that manipulation of CHF LIBOR by Credit Suisse, RBS and other defendants, including Bluecrest, had caused them to lose money on franc-denominated currency derivatives

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