The High Court has dismissed an application for judicial review into the way KPMG reviewed a case relating to the mis-selling of interest rate hedging products (IRHP) by Barclays. Barclays made an undertaking to the then FSA, now FCA, to establish a redress scheme for certain customers who had been wrongly sold IRHP and that KPMG would oversee both the implementation and the application of the scheme. Holmcroft Properties Ltd argued that an offer made to them by Barclays was inadequate as it did not account for consequential loss. It also asserted that KPMG had acted in breach of public law principles by approving the offer. The court found that there was actually no unfairness by Barclays so it did not matter whether KPMG was under a duty or not. However, it also found no basis on which KPMG would have been in breach of any public law duty as it had in fact carried out the task required by the undertaking. (Source: Review into KPMG’s role in scheme for mis-sold Barclays IRHP dismissed)