Barclays, Staveley spar in final lap of London trial | Reuters

Barclays, Staveley spar in final lap of London trial | Reuters:

A bitter High Court clash between Barclays BARC.L and British businesswoman Amanda Staveley, over whether she was deceived while negotiating a financial lifeline for the bank at the height of the credit crisis, draws to a close on Friday.

Staveley is claiming hundreds of millions of pounds in damages from Barclays in a civil case that kicked off in June and hinges on how the bank secured emergency funds from Qatar and Abu Dhabi and averted a state bailout in October 2008.

Staveley’s PCP Capital Partners, which led a 3.25 billion pound ($4.2 billion), Abu Dhabi-backed investment, alleges it was induced to fund Barclays on much worse terms than Qatar -- despite assurances it would get the same deal.

PCP, which reduced its maximum damages claim to 836 million pounds from 1.5 billion during the trial, alleges Barclays paid Qatar 346 million pounds in secret fees and handed the Gulf state a $3 billion loan that almost matched Qatar’s investment.