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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'
Add BT as a preferred sourcePublished Fri, Jun 17, 2016 · 09:50 PM
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London
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 Capital Partners is claiming damages for alleged fraudulent misrepresentation in a civil case lodged at London's High Court in January that sheds light on how Abu Dhabi and Qatari sheikhs helped bail Barclays out nearly eight years ago.
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