Barclays Settles Suit Over $1.8M Fraudulent Payment Claims

Law360, London (January 31, 2020, 1:34 PM GMT) -- Barclays Bank UK PLC has settled a lawsuit brought by a security services provider after the lender refused to return $1.81 million in payments that the company claimed to have been tricked by a fraudster into transferring.

The claim by Arempa International Ltd. — a United Arab Emirates company that distributes and supplies security, border control and aviation equipment — has been stayed after the two sides reached an out-of-court settlement on Wednesday, according to a Tomlin order filed at the High Court in London.

Judge Andrew Baker signed off the order and gave the warring companies permission to apply to...

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