Home » Lifestyle » Amanda Staveley puts Newcastle takeover on hold for legal battle with Barclays worth £1.6BILLION – The Sun
Amanda Staveley puts Newcastle takeover on hold for legal battle with Barclays worth £1.6BILLION – The Sun
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NEWCASTLE takeover 'fixer' Amanda Staveley will be forced to put the buy-out on hold – as she faces a High Court grilling over her challenge to sue Barclays bank for a staggering £1.6 BILLION.
It is the latest blow in the Toon saga with a Saudia Arabia-backed regime wanting the Premier League club in a £340million deal from Mike Ashley.
Staveley has been the key figure in the takeover which has been held up by controversy with critics claiming it will allow the kingdom to "sportswash" its appalling human rights record.
But with her out of the equation this week because of her High Court showdown, more delays will hit the buy-out.
She will appear in London's High Court tomorrow and all week as she sues Barclays for £1.6bn in a high-profile case.
The Yorkshire-born financier has accusing Barclays of deceit and claims she was edged out of up to £1.6billion in fees after the bank unfairly favoured other investors over her firm, PCP Capital, as the bank sought to raise £7.3bn in cash during the 2008 banking crisis.
The sale of the Tynesiders has already hit trouble.
MPs are in outrage over the deal because of the Saudis miserable human rights record – and are lobbying the Government to tighten restrictions on the ownership of UK football clubs by states with poor human rights records.