As per ChronicleLive, Amanda Staveley, the businesswoman leading the proposed takeover of Newcastle United, and her lawyers have reportedly given evidence in High Court over a past feud with Barclays.
Where would Newcastle finish in the Premier League next season after the takeover?
Staveley has apparently accused the then boss of the bank at the time Roger Jenkins of lying to her when negotiating deals of investment during the global financial crisis of 2008.
The lawyers that were representing her also said that Barclays allegedly agreed to give an unsecured £2 billion loan to investors in Qatar.
Staveley’s firm PCP Capital Partners have claimed that it is owed money for the work it did in setting up a Middle East investment deal for the British bank during the crisis twelve years ago.
She told Mr Justice Waksman on Thursday about how she learned about ‘secret fees’ in 2013, some five years later.
Staveley’s lawyers have said that the loan was ‘concealed’ from the market, the shareholders and indeed from herself.
However, the lawyers representing Barclays bank have described PCP’s damages claim as ‘opportunistic and speculative’, and added that ‘PCP in fact made no loss’.
Mr Waksman began overseeing the trial, which is being shown online and is apparently expected to last two months, on Monday in London at the High Court.
Indeed, if Staveley is to attend these trials, then it may draw her attention away from the prospective deal between her Saudi Arabia-led consortium and current owner of the Magpies Mike Ashley, which is still also awaiting an official approval from the Premier League.
Nevertheless, the majority of members of the Toon faithful will surely be asking for answers as to whether the £300 million bid will go through or not, as it is news like this that perhaps just adds to the delays.
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