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Barclays labels US$1b lawsuit over 2008 fundraising 'misconceived'

Bank denies dishonesty and recklessness, calls PCP's charge 'flawed and speculative'

MS STAVELEY: Her private equity group is claiming damages for alleged fraudulent misrepresentation in a civil case that sheds light on how Abu Dhabi and Qatari sheikhs helped bail Barclays out eight years ago.


BARCLAYS has described as "fundamentally misconceived" a US$1 billion-plus lawsuit brought by British financier Amanda Staveley over the bank's emergency fundraising from Gulf investors at the height of the credit crisis in 2008.

Ms Staveley's private equity group PCP