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BBSW.AU
id: 472
BBSW-BASED DERIVATIVES SETTLEMENT
The process of distributing settlement funds to claimants has started.
$185,875,000
Cash SettlementS.D. New York
Court16-cv-06496
Case number01/01/2003
Class period Start08/16/2016
Class period End01/16/2023
Claim deadlineSeveral Big Banks agreed to pay a total of $185.9 million to settle a class action lawsuit to avoid further litigation on alleged manipulation of the Bank Bill Swap Rate (BBSW) and the prices of BBSW-Based Derivatives.
The Settlements will provide the following amounts for the benefit of qualifying members, inclusive:
JPMorgan Settlement: $7,000,000
Westpac Settlement: $25,000,000
ANZ Settlement: $35,500,000
CBA Settlement: $35,500,000
NAB Settlement: $27,000,000
Credit Suisse Settlement: $8,875,000
Morgan Stanley Settlement: $7,000,000
BNPP, Deutsche Bank, RBC, RBS and UBS Settlement: $40,000,000
TOTAL: $185,875,00
Case Status
Disbursement
Alleged Offence
Other
Suspected Party
Other
Security Type
Interest Rate
Trade Direction
Long
Plaintiffs
Richard Dennis, Sonterra Capital Master Fund, Ltd., FrontPoint Financial Services Fund, L.P., FrontPoint Asian Event Driven Fund, L.P., FrontPoint Financial Horizons Fund, L.P.
Attorneys
Lowey Dannenberg, P.C., Lovell Stewart Halebian Jacobson LLP
Judge
Hon. Lewis A. Kaplan.
Administrator
A.B. Data Ltd
Court hearing date
11/01/2022
Trades matching type
FIFO