Fraud with Libor/Euribor
Deutsche Bank & RABOBANK were found guilty of Fraud and Systematic Manipulation of LIBOR and EURIBOR, which form the heart of Interest Rate Swap Contracts. Clients of Deutsche Bank & RABOBANK would have never signed such Swap-Contracts had they known about this Fraud. Therefore should these Swap-Contracts be retroactively Nullified. Read more here.
Violations of Duty of Care & Unlawful Raises of Interest
Secondly, Deutsche Bank & RABOBANK’s Violations of the Duty of Care, Fraudulent Misrepresentations and Unlawful imposing of Premiums and Raises of Interest Rates of the Swaps, misled Entrepreneurs into paying too much Interest. Entrepeneurs are entitled to have that Interest Reimbursed. Read more here.
Summary of Damages
The average damage of an Interest Rate Swap attached to a loan of €1M is €200,000 over the last seven years. This can consist of the difference between the rate of the Swap-Contract and the LIBOR/EURIBOR, costs due to the Unlawful Raise of Interest Rates and Premiums, costs caused by Fraudulent Misrepresentations and other costs. Read more here.