29th Jan 2016 06:41
LONDON (Alliance News) - Barclays is facing a GBP1.0 billion lawsuit from dealmaker Amanda Staveley over the emergency GBP5.8 billion funding call the bank launched in 2008, the Financial Times reported.
Staveley's PCP Capital Partners has sued Barclays in London, according to a court listing seen by the FT. No details on the nature of the dispute were known, but Barclays confirmed to the newspaper it hinged on the capital call it made at the height of the financial crisis.
In October 2008, Barclays turned to Qatar and Abu Dhabi investors, the latter of which was represented by Staveley, as financial markets plunged into turmoil following the collapse of Lehman Brothers.
https://next.ft.com/content/471dc3de-c5f1-11e5-808f-8231cd71622e
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Barclays