Finance

Amanda Staveley’s appeal in Barclays case refused

Financier Amanda Staveley’s appeal against a High Court decision to deny her damages in her case against Barclays has been refused. 

The appeal had been filed on 16 April this year, but has now been refused, Reuters reported, citing a court filing. 

Staveley’s private equity firm PCP Capital, which made a £3.25bn investment on behalf of Abu Dhabi’s Sheikh Mansour bin Zayed Al-Nahyan during Barclays’ emergency cash call in 2008, sued the bank, claiming her firm got a worse deal than a group of Qatari investors who invested £2bn. 

READ Amanda Staveley challenges High Court decision in £660m case against Barclays

During the trial, which spanned five months in total, Justice David Waksman heard evidence from 17 witnesses over 30 days and from four expert witnesses over another six-day period.

In the judgement, handed out on 26 February, the court held that the bank was “guilty of serious deceit” towards PCP and that “dishonest” representations were made by a Barclays senior executive during the negotiations between the two parties in 2008, as the bank looked to raise funds to keep it afloat during the financial crisis.

READ Amanda Staveley vs Barclays: The unforgettable drama that unfolded

Staveley, PCP Capital and Barclays declined to comment.

To contact the author of this story with feedback or news, email Bérengère Sim

Most Related Links :
todayuknews Governmental News Finance News

Source link

Back to top button