A British businesswoman, Amanda Staveley UAE relations have circled around the monetary deals, which have crucially proved to be lucrative for the Emirates. However, the lady, who has been walking on the paths decorated by Gulf money, was recently seen weeping in the High Court of London.
On June 8, 2020, Amanda Staveley’s UAE-based firm, PCP Capital Partners filed a lawsuit against a multinational investment bank, Barclays. The legal battle was initiated over an alleged deceit in a multi-billion-dollar investment deal of 2008, concerning the UAE and its rival, Qatar.
PCP Capital sued Barclays for £1.5 billion claiming to believe that both the Gulf countries were offered a same deal. However, the criminal filing alleged that the bank “deliberately misled” the market and offered “manifestly worse terms” in comparison to those given to the Qatari investors. Barclays was accused of paying an additional “advisory” fee of £280 million, a fee of £66 million and “an entirely unsecured loan” of £2 billion. The allegations were, however, denied by Barclays, which said that PCP’s allegations are “built on sand”.
Amanda Staveley also claimed of introducing Abu Dhabi’s Mansour bin Zayed al-Nahyan to the bank 12 years back, when the Sheikh invested £3.25bn as part of an emergency capital raising during a financial crisis. However, according to Barclays Mansour was introduced by Qatar, owing to which the Gulf nation was granted a fee of £66 million.
The 47-year-old Staveley has frequently mentioned of having a “good relationship” with Mansour. In the most recent hearing at the London High Court on June 19, she said that he “sometimes sought my counsel about things” and that he regularly texts her on WhatsApp. However, the Amanda Staveley UAE relations came under renewed pile of questions that were raised by the barrister representing Barclays, Jeffrey Onions QC.
Prince Andrew’s former girlfriend was accused of “significantly exaggerating” her business relationship with the Abu Dhabi royal, Mansour. She was also alleged of engaging in a “hustle” to get involved in the Barclays’ crucial capital raising deal to enrich herself. Onions also accused Staveley of “embellishing” and “inventing” evidence.
While Amanda Staveley UAE relations are being doubted, she has remained in headlines for brokering deals for the Emirati royals and for Saudi Arabia princes. In 2008, Staveley played a crucial role in Mansour bin Zayed’s purchase of Manchester City Football Club.
Besides, in her latest dealing of the Gulf, she is working to fix another premier league club, but for the Saudi Arabian Crown Prince Mohammed bin Salman. The ultra-conservative nation is seeking to purchase Newcastle United Football Club. However, the breach of rules by the Saudis is making them ineligible to own a British football club, leaving Staveley in a difficult state for fixing the deal.
While the nine-week trial continues, the allegations on Barclays by Amanda Staveley’s firm still remain unproven. The lawsuit, which the businesswoman filed against the bank, could possible turn the bottle towards herself, revealing the unveiled business relations she maintains with both the UAE and Saudi Arabia.
