Barclays High Court battle looms

A High Court battle between UK trading house CF Partners and Barclays is set to kick off this week over the acquisition of Swedish trading firm Tricorona. The case, which is expected to last eight weeks, will see CF Partners sue the British bank for breach of confidentiality and breach of contract. The claim against Barclays and Tricorona is for €164m (£138m). CF Partners claims Barclays was hired to provide debt finance and financial advice for the acquisition of Tricorona in 2008 but then acquired the company for itself. A Barclays spokeswoman has called the case “entirely without merit”, adding the bank will be “contesting it vigorously”.