PCP Loses £679M Fraud Suit Over Barclays Qatar Fundraising

Law360, London (February 26, 2021, 12:51 PM GMT) -- A London judge ruled that Barclays does not have to pay PCP Capital Partners £679 million ($945 million) despite lying about an emergency fundraising drive, saying Friday that the private equity firm had no chance of getting the financing needed to profit from the deal.

A High Court judge has dismissed an attempt by a private equity company to get £679 million ($945 million) from Barclays for fraud. (iStock) High Court Judge David Waksman ruled that a former senior executive at Barclays had fraudulently misrepresented that PCP would be getting the same deal as the bank's Qatari investors for its work...

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