Barclays Told to Turn Over Qatar Advice in $2 Billion Suit
(Bloomberg) --
Amanda Staveley's PCP Capital Partners LLP got a boost in its fight with Barclays Plc after a London judge ruled that the bank must turn over around 1,500 documents on the eve of the $2 billion trial.
Barclays can no longer withhold attorney discussions over the bank's attempt to prise emergency funding from Qatar at the height of the financial crisis, Judge David Waksman said Monday. The ruling came just a week before the start of a trial that's set to reconsider the bank's attempts to avoid a U.K. government bailout.
Staveley claims that Barclays cheated her out of profits she should have earned by bringing investors into the deals. The civil case was delayed for years while criminal trials against former Barclays executives Roger Jenkins, Tom Kalaris and Richard Boath worked through the courts. A jury unanimously acquitted the men of fraud in February.
PCP's attorney said earlier at the hearing that Barclays' defense in part relies upon the banks' lawyers signing off on the fundraising agreements. Jenkins, who is set to testify next month, said in a court filing that “he took comfort from” legal advice as he struck advisory agreements with the Qataris.
Barclays resisted providing the documents, saying that the request was unneccesarily burdensome and in any event would provide no benefit to PCP.
©2020 Bloomberg L.P.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
