Reuters - Barclay's Staveley civil suit still some way off

Barclays Canary Wharf

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.

Hit the link below to access the complete Reuters article:

Financier Staveley's $1 billion Barclays trial postponed to October 2019

Japan's MUFG sues New York regulator over bank's oversight shift

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News