UK · EWCACourt order
Court of Appeal quashes five former Barclays traders' rate-rigging convictions after Hayes ruling
The Court of Appeal of England and Wales on October 7 quashed the Libor and Euribor conspiracy-to-defraud convictions of former Barclays traders Jay Merchant, Jonathan Mathew, Alex Pabon, Philippe Moryoussef and Colin Bermingham. The appeals, referred by the Criminal Cases Review Commission, argued their juries received directions like those the UK Supreme Court found wrong when it quashed Tom Hayes's conviction in July 2025; the Serious Fraud Office did not oppose them.
Order (BBC News) → · The Independent, Criminal Cases Review Commission
Key points
- Lawyers argued the trial jury directions were near-identical to those the Supreme Court found wrong in the Hayes case.The Independent
- Lord Justice Edis sat with Mr. Justice Goose and Mr. Justice Moody; full reasons were to follow.BBC NewsThe Independent
- The appeals reached the court on references from the Criminal Cases Review Commission.Criminal Cases Review Commission
- Merchant, Mathew, Pabon and Bermingham served prison terms; France refused to extradite Moryoussef, sentenced in absence in 2018.BBC News
- Former Deutsche Bank trader Christian Bittar is due to challenge his conviction on October 9.BBC News