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FSA's landmark legal victory over Barclays could see more assets being frozen
Markets
by Emma Dunkley on Feb 28, 2013 at 10:06
As a consequence of the ruling, the onus will fall on banks and other institutions, who fear being affected by an injunction, to explain the loss feared and to apply for any injunction to be made, conditional on an undertaking for damages.
However, the law firm said given the basis of the ruling, applying for an injunction may be difficult to establish.
Ultimately, Gleghorn said it removes a significant concern for the FSA and a potential barrier to taking action that could herald a more litigious FSA.
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