Former Barclays boss rejects suggestion that he “misled” the board during the 2008 financial crisis
A former Barclays boss has rejected a suggestion that he “misled” the board during the 2008 crisis.
John Varley testified on Monday in a Supreme Court lawsuit, where businesswoman Amanda Staveley is suing the bank for £ 1.6 billion for allegations that it misled her as she helped strike a deal that saved her in a financial crisis.
Claim: Amanda Staveley sues Barclays for £ 1.6 billion for claims it misled her while helping to make a deal that saved it in a financial crisis
Barclays disputes the claim.
She says a £ 2 billion loan to Qatari investors was “hidden” from the market, shareholders and her private equity firm.
But Varley yesterday denied the suggestion that he had misled the Barclays board over an agreement concluded with the Qataris in June 2008.