LONDON (Alliance News) - Barclays PLC has been threatened with a GBP1 billion legal claim by Amanda Staveley, the City deal maker, the Sunday Times reported.
Staveley helped to stage the bank's Gulf fundraising as it looked to strengthen its balance sheet at the peak of the financial crisis, the report said.
The GBP322 million that Barclays paid in fees to the state of Qatar is at the centre of the case, the report said.
There have been secret court hearings in relation to a separate investigation by the UK Serious Fraud Office into Barclays' 2008 fundraising, the report said.
According to The Sunday Times, investigators have been applying for access to evidence held by Barclays. The bank believes that evidence to be protected by legal privilege, the report said.
A hearing is scheduled for December. Court orders prevent public discussion of the details of the case
"This claim [from Staveley] is without merit, and we will vigorously defend it," Barclays said, according to The Sunday Times.
http://www.thesundaytimes.co.uk/sto/business/Finance/article1617933.ece
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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