EURIBOR Manipulation and Loan Agreements: CJEU Rules Against Automatic Invalidity The CJEU’s landmark judgment in Livronsa (Case C-60/25) definitively closes the debate?

10 September 2026

In recent years, EURIBOR-related litigation has emerged as one of the most significant areas of banking disputes across Europe. Following the European Commission’s decisions finding that a group of banks had manipulated EURIBOR in the euro interest rate derivatives sector (the “EIRD Decisions”), borrowers have brought a wave of claims arguing that EURIBOR-referenced interest clauses in loan agreements are automatically void.

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