Barclays Bank obtained a court order early today banning the Guardian from publishing documents which showed how the bank set up companies to avoid hundreds of millions of pounds in tax.
The gagging order was granted by Mr Justice Ouseley after Barclays complained about seven documents on the Guardian's website which had been leaked to the Liberal Democrats' deputy leader, Vince Cable. The internal Barclays memos - leaked by a Barclays whistleblower - showed executives from SCM, Barclays's structured capital markets division, seeking approval for a 2007 plan to sink more than $16bn (£11.4bn) into US loans. Tax benefits were to be generated by an elaborate circuit of Cayman islands companies, US partnership and Luxembourg subsidiaries. The documents had been leaked to ...
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