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The Guardian - UK
The Guardian - UK
National
Staff and agencies

Mike Ashley victim of ‘abuse’ by US bank Morgan Stanley, high court hears

Mike Ashley Morgan Stanley Frasers United States Hugo Boss Adrian Beltrami KC Saxo Bank
A smiling Mike Ashley leaves the high court in London
Mike Ashley leaves the high court in London, where Frasers is seeking £40m in compensation. Photograph: Yui Mok/PA

The billionaire businessman Mike Ashley has claimed he was the victim of “abuse” by Morgan Stanley amid a high court dispute over the investment bank’s decision to impose a near $1bn (£790m) cash demand.

Ashley’s Frasers Group is taking legal action against the US investment bank Morgan Stanley and Denmark’s Saxo Bank over the May 2021 move linked to bets placed on shares in the German retailer Hugo Boss.

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