Staveley in tears during court case

AMANDA Staveley broke down in tears after lawyers representing Barclays accused her of engaging in a “hustle.”

The financier, who is part of a Saudi Arabia-backed consortium which hopes to buy Newcastle United, has told a High Court judge bank bosses agreed to provide an unsecured £2billion loan to Qatari investors.

She says that loan was “concealed” from the market, shareholders and from PCP Capital Partners, a private equity firm run by Ms Staveley.

PCP is suing the bank and wants £1.6billion in damages.

Ms Staveley’s firm says it is owed money for the work it did setting up a Middle East investment deal for Barclays during the 2008 crisis. Barclays disputes her claim.

A barrister leading the bank’s legal team yesterday suggested to a judge overseeing a High Court trial in London that Ms Staveley had effectively engaged in a “hustle.”

Jeffery Onions QC suggested Ms Staveley was somebody who was prepared to “lie” in order to extract money she was not entitled to.

He suggested she had brought the claim because she thought Barclays would settle.

Ms Staveley denied Mr Onions’ suggestions and then began to cry.

A barrister leading PCP’s team said Mr Onions’ suggestions were “extraordinary and bizarre.”

Joe Smouha QC told the judge Mr Justice Waksman what Mr Onions had said was “ridiculous.”

Mr Onions told the court: “You saw an opportunity to insert yourself into the Barclays transaction and engineered a place for yourself.

“You were effectively engaged in what might colloquially be described as a hustle.” He suggested Ms Staveley

(below) was “somebody who was prepared to lie and rely on false documents to extract money you were not entitled to.”

Mr Onions alleged she had brought the claim because she thought that Barclays would settle.

He said she had wanted fees which were “commercially ridiculous.”

Ms Staveley said she did not accept what Mr Onions was saying and did not agree with it.