Royal Bank of Scotland (RBS) applied to transfer proceedings to the Financial List of the High Court because the nature of the case would have repercussions elsewhere. The claimant alleged RBS mis-sold four interest rate swaps, acted improperly in relation to fixing LIBOR and breached an agreement. The claim in total was for around £29 million. The court granted RBS’s application even though the total claim was for less than the £50 million minimum normally required to come within the definition of Financial List claim. The Financial List is deliberately restricted to a small number of judges who are not only expert in financial matters but also up-to-date with the latest important developments in financial markets. The issues raised matters of general and important market significance which were bound to have repercussions elsewhere; although not in the nature of a test case, this case was a lead case where the judgments made and decisions reached would affect present and future cases. (Source: LIBOR fixing claim transferred to the Financial List)