Amanda Staveley acted for Thaksin Shinawatra when Man Metropolis have been taken over by Sheikh Mansour in 2008 however the PCP Capital Companions CEO informed the Excessive Courtroom she ‘did not actually wish to be concerned within the transaction’ at first.
Ms Staveley, whose consortium’s bid to purchase Newcastle United is at present within the palms of the Premier League, is giving proof as a part of her agency’s £1.6bn declare in opposition to Barclays.
PCP declare they’re owed cash after introducing Sheikh Mansour to Barclays throughout the 2008 monetary disaster – which culminated in a £3.25bn rescue deal.
The advanced case, which is being heard earlier than Mr Justice Waksman and is being broadcast on-line, began on Monday and Ms Staveley has been giving proof in particular person on the Rolls Constructing since Thursday.
Ms Staveley has been cross-examined by Jeffery Onions QC, who’s main the Barclays authorized group. On Friday, Mr Onions addressed Ms Staveley’s involvement in Man Metropolis’s takeover.
Mr Onions began by studying out a piece of Ms Staveley’s written witness assertion to the courtroom the place the financier confirmed she ‘acted for Thaksin Shinawatra’ on the sale of Man Metropolis practically 12 years in the past.
In her assertion, Ms Staveley acknowledged that ‘it has been reported within the press that I acted for Sheikh Mansour’ within the acquisition however she ‘the truth is acted for the vendor in that transaction and Sheikh Mansour had his personal advisers, together with his native UAE attorneys’.
Cross-examined, Ms Staveley confirmed her first interplay with Dr Shinawatra was although Seymour Pierce and Keith Harris in 2007 when ‘he was searching for financing’.
Mr Onions then turned to an article written within the Each day Telegraph about Sheikh Mansour’s curiosity in shopping for Man Metropolis that claimed ‘Thaksin instantly noticed the seriousness of the strategy and sought skilled recommendation’ from Ms Staveley.
Addressing this, Ms Staveley informed the courtroom that ‘we would been taking a look at a unique soccer membership the yr earlier than’ and that was Liverpool.
“It was Liverpool. We had been taking a look at a unique membership,” she stated. “We had made a bid on behalf of a UAE consortium and at first I did not actually wish to be concerned within the Man Metropolis transaction for Dr Thaksin as a result of we would already checked out it the yr earlier than. It hadn’t received very far so we have been form of considerably despondent.”
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On the Metropolis takeover, Ms Staveley went on so as to add that she remembered ‘the shut very properly as a result of it was an intense interval’ as ‘we needed to purchase a footballer on the identical time and we needed to get paperwork finished and we needed to get the SPA (sale and buy settlement) finalised’.