Barclays Blamed For Pet Co.'s Collapse In £1.25M Loan Fight

Law360, London (September 1, 2020, 2:42 PM BST) -- Barclays Bank and auditor BDO have been accused in a High Court lawsuit of conspiring to force a pet care supply company into administration so that the lender could collect on a £1.25 million ($1.7 million) loan guaranteed by a holding company. 

Leisuregrow Holdings Ltd., which owns securities in outdoor furniture, lighting and pet supply companies, alleges that "unreasonable and prejudicial conduct" by Barclays Bank PLC meant that Petface Ltd. could not recover from financial difficulties and had to default on two loan agreements, according to defense documents filed by the company on Aug. 24.

Barclays says in its suit filed in...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!