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Barclays to pay own $46 million legal bill in case over 2008 bailout from Qatar and Abu Dhabi arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
2 Min Read FILE PHOTO: The Barclays logo is seen in front of displayed stock graph in this illustration taken June 21, 2017. REUTERS/Dado Ruvic/Illustration/File Photo LONDON (Reuters) - A judge ruled Barclays will have to pay its own 33 million pound ($46.09 million) legal bill despite winning a case against British businesswoman Amanda Staveley’s PCP Capital Group over how the bank negotiated a financial lifeline during the credit crisis in 2008. Judge David Waksman said on Thursday he made “no order as to costs”, meaning both sides will pay their own legal costs. PCP had been potentially liable for both sides’ expenses under England’s “loser pays” laws. ....
In the High Court today Judge David Waksman said he made “no order as to costs”, so both sides will pay their own bills. According to court documents, Staveley’s PCP Capital Partners amassed nearly £20m in legal costs during the long-running trial. Lawyers acting for Ms Staveley had called for the bank to contribute £11m towards her expenses. “We welcome the Judge’s decision, which justly ensures that PCP is not liable to pay Barclays any of its costs of the litigation,” Khaled Khatoun, Staveley’s lawyer, said today. The high-profile trial centred around the claim that Barclays gave Staveley’s private equity firm less favourable treatment than other parties in the emergency £7.3bn fundraising that saved the bank from a state bailout in 2008. ....
Message : Required fields LONDON (Reuters) - A judge ruled Barclays will have to pay its own 33 million pound ($46.09 million) legal bill despite winning a case against British businesswoman Amanda Staveley s PCP Capital Group over how the bank negotiated a financial lifeline during the credit crisis in 2008. Judge David Waksman said on Thursday he made no order as to costs , meaning both sides will pay their own legal costs. PCP had been potentially liable for both sides expenses under England s loser pays laws. Waksman in February had found Barclays guilty of serious deceit over the deal which offered Barclays a lifeline during the crisis, but denied Staveley damages and dismissed her claim. ....
Barclays to pay own US$46 million legal bill in Staveley court case channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.