A $ 10bn lawsuit brought against banks by a Saudi Arabian real estate company , Jadawel bank , has been dismissed by New York investment banking firm Charles Ramos , affirming banks ' claims that the claims made by Jadawel were patent - barred and that the lawsuit did not establish a fiduciary relationship between Jadawel and the bank . The Saudi bank had alleged that Barclays used a fraudulant scheme in order to secure a Saudi banking license from the local authorities .
A $10bn lawsuit brought against Barclays by a Saudi Arabian real estate company, Jadawel International, has been dismissed by New York Supreme Court Judge Charles Ramos, affirming Barclays' claims that the claims made by Jadawel were time-barred and that the lawsuit did not establish a fiduciary relationship between Jadawel and the bank. The Saudi company had alleged that Barclays used a fraudulant scheme in order to secure a Saudi banking license from the local authorities.