Barclays has branded a lawsuit brought by Amanda Staveley, a financier who helped the bank avoid a taxpayer bailout in 2008, as "fundamentally misconceived".
In a 44-page court document filed by the bank, Barclays denied allegations made by Staveley's firm PCP Capital Partners over a fundraising that took place amid 2008's financial crisis.
At the time, Stavely's firm was advising Abu Dhabi’s Sheikh Mansour bin Zayed al-Nahyan who stumped up more than £3bn into the financing.
According to Reuters, Barclays alleged PCP Capital Partners was "unable to establish it had suffered any loss from negotiations" with the bank during the capital raising.
"Barclays denies that it made any representations which were false," it stated in a court document seen by Reuters yesterday.
In the past, PCP has alleged that Qatari investors earned a total of £346m in secret "sham" payments. The financial firm said that, had it known about these payments, it would've not agreed to split about £3bn of Barclays warrants with Qatar and would not have given up a 10 per cent interest in the instruments, worth around £720m.
The Serious Fraud Office is currently conducting an inquiry into Barclays and its former executives over undisclosed payments made to Qatari investors in 2008.
Last month, Andrew Onslow, a lawyer for the SFO, told a London court that the watchdog hopes to decide by early next year whether to bring any criminal charges in the investigation into Barclays' multi-billion-pound capital raising.