Mike Ashley Sues Morgan Stanley Over $1bn Margin Call

The Frasers Group, led by billionaire Mike Ashley, is embroiled in a legal battle against Morgan Stanley, alleging 'abuse' and seeking €47m in damages for lost trading profits.

• Mike Ashley claims to be a victim of 'abuse' by Morgan Stanley, which demanded nearly $1bn from his retail empire, Frasers Group, over share price bets on Hugo Boss.
• Frasers Group is suing Morgan Stanley for approximately €47m, alleging lost trading profits and costs from transferring trades to HSBC.
• Ashley accuses Morgan Stanley of unfair treatment and snobbery, suggesting the bank's actions were motivated by a personal dislike of him.
• Morgan Stanley and Saxo Bank deny the allegations, with Morgan Stanley's legal team arguing the claims are 'divorced from legal and factual reality'.
• The trial is ongoing, with a judgment expected next month, as Ashley aims to demonstrate Morgan Stanley's 'grotesque and unfair' actions.

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