A trustee representing creditors of SemGroup has filed a class action case against Barclays Bank and Barclays Capital, over repayment of a $143m fee, which was collected by the bank when it acquired the commodities trading positions of the energy company during its 2008 collapse.
The firm filed the case in the US District Court in Manhattan, and accused Barclays for willfully forcing it to hike its debt to pay the bank during liquidiy crisis and thus leading to bankruptcy, as reported by Reuters.
The Oklahoma-based, SemGroup had filed for bankruptcy after facing oil and commodities trading losses of $2.4bn, but has emerged from bankruptcy in 2009.
"As demonstrated by the recent announcement that Barclays will pay a fine of $453 million to U.S. and British authorities to settle allegations that it manipulated key interest rates, Barclays and its traders are not strangers to the possibility of manipulating prices or markets for profit," the lawsuit added.