19 January 2005
Plus $35 for a late charge
Barclays Bank, which acquired the Banco de Valladolid in 1981, was sued by Domingo Lopez Alonso, former majority owner of the Spanish bank. The bank had failed, and Lopez had turned over his shares to the Spanish government under its restructuring rules; Barclays basically picked up what was left after Madrid paid off the depositors, and, said Lopez, Barclays cheated him out of what would have been rightfully his.
The court found for Lopez, and awarded him, according to the order as printed, 1.1 quadrillion euros, roughly $1,400 trillion US, an amount far in excess of the Spanish gross domestic product, possibly almost enough money to bail out the US Medicare system.
Interested parties are operating on the assumption that this is a typo and a subsequent court order will correct the figure.