British businesswoman Amanda Staveley ’s $1 billion civil lawsuit against Barclays will not go to trial before October 2019 to avoid any prejudice to a parallel criminal case, a London court ruled on Wednesday.
Reuters reports that Barclays and Britain’s Serious Fraud Office (SFO) on Thursday confirmed the decision after a partly private hearing into whether the Staveley trial, originally listed for next January, should be postponed.
The civil trial will now be heard after Barclays and four former senior executives, including ex-CEO John Varley, face a jury over undisclosed payments to Qatari investors during a 12 billion pound ($16 billion) emergency fundraising during the financial crisis in 2008.
The SFO in June filed fraud charges against Barclays and Varley, Roger Jenkins, Tom Kalaris and Richard Boath after investigating a two-part fundraising that included a $3 billion loan to Qatar, in the first criminal prosecution of a bank and senior managers over credit crisis-era events.
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