Hayes Supreme Court victory shortlisted for Case of the Year at the LexisNexis Legal Awards 2026

We are pleased that our client Tom Hayes’ Supreme Court victory has been shortlisted for the ‘Case of the Year’ award at the LexisNexis Legal Awards 2026, for ‘R v Hayes et al (Libor rigging)’. Tom was represented by Maltin PR for his communications, Karen Todner was his solicitor, and Adrian Darbishire KC was his leading counsel.

The nomination recognises the significance of the Supreme Court’s decision last year to quash the convictions of former derivatives trader Tom Hayes and Carlo Palombo, bringing to an end one of the most closely scrutinised financial crime prosecutions of the past decade.

Hayes, who previously worked at UBS and Citigroup, became the first individual convicted in the UK in connection with alleged manipulation of the London Interbank Offered Rate (LIBOR). Prosecuted by the Serious Fraud Office, the case centred on whether Hayes had dishonestly sought to influence LIBOR submissions in order to benefit his trading positions, leading to his conviction and a sentence of 14 years’ imprisonment, later reduced to 11 on appeal.

In a unanimous decision, the Supreme Court held that the convictions were unsafe. The Court found that the jury had been misdirected during the original trial, specifically in relation to whether a LIBOR submission influenced by a bank’s trading interests could ever be considered genuine or honest.

The Court concluded that submissions within a genuine range of borrowing costs could still be legitimate, and that the benchmark regime allowed banks to take their commercial interests into account when making submissions. As a result, the convictions were quashed on the basis that the defendants had not received a fair trial, and were always quoting true rates.

The decision has been widely recognised as one of the most significant developments in UK financial crime law in recent years, prompting extensive discussion across the legal and financial sectors.

The LexisNexis Legal Awards celebrate outstanding achievements across the legal profession, recognising the cases, teams and individuals who have made a significant impact on the development of the law.

We have been closely involved in supporting high-profile litigation and reputation management matters across the UK and internationally, and are delighted to see R v Hayes et al recognised among the most significant cases of the year.

Maltin PR will also be sponsoring the Law Firm of the Year award at this year’s ceremony, which will take place in London on 26 April.

For the full shortlist, click here.