Barclays is being sued for just under £1bn by PCP Capital Partners, which alleges that it ought to have benefitted from Barclays' emergency £5.8bn capital raising in 2008. PCP invested on behalf of Abu Dhabi’s Sheikh Mansour bin Zayed Al Nahyan, who has since offloaded much of his stake in the bank through a hedging deal with Nomura, in October 2008. The lawsuit claims that Barclays should not be liable because its actions were "entirely consistent with, and anticipatory of, the events leading up to" the 2008 financial crisis.
Barclays is being sued for just under £1bn by PCP Capital Partners, which alleges that it ought to have benefitted from Barclays' emergency £5.8bn capital raising in 2008. PCP invested on behalf of Abu Dhabi’s Sheikh Mansour bin Zayed Al Nahyan, who has since offloaded much of his stake in the bank through a hedging deal with Nomura, in October 2008. Barclays has said that the claim is without merit, and that it will vigorously defend itself against the allegations.