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 Amanda Staveley's, 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.
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.