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The Law Society Gazette and CDR Magazine quote Caroline Greenwell on the LIBOR appeal

The Court of Appeal has confirmed Tom Hayes’ conviction raises such significant issues, that the UK Supreme Court should have the final say on an appeal.

The Court of Appeal in March had already dismissed Hayes’ appeal, alongside that of Carlo Palombo who was convicted of manipulating the Euro Inter-Bank Offered Rate (EURIBOR). Unusually, that same court on Tuesday (21 May) refused permission to appeal to the UK Supreme Court per se, but did hold that the matter was of such potential significance that the Supreme Court itself should be allowed to decide whether it will hear an appeal.

Caroline Greenwell, Partner, says:

Whilst the traders are no doubt carefully considering a last roll of the dice to the Supreme Court, the traders may not be comforted by the fact that there are currently no Supreme Court justices with a criminal justice background. A possible reform that has been mooted by a number of commentators is to introduce a requirement for one permanent justice of the Supreme Court to have a background in criminal law.

In Chandler (Appellant) v The State (Respondent) No 2 (Trinidad and Tobago), heard by the Judicial Committee of the Privy Council in November 2021, a similar issue arose. Lord Hughes was brought out of retirement to sit on a nine-person panel to ensure there was criminal representation. Hayes and Palombo may be well advised to consider this precedent.

Read the full piece in CDR Magazine here.

Related coverage:

The Law Society Gazette

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