Barclays Bank has settled a long-running claim brought in London by Nylon Capital in connection with the redemption of Barclays' investment in the Nylon Flagship Fund and all related disputes between them and Nylon founder Alan Burnell. The terms are to remain confidential, according to a joint statement.

The statement makes clear that the disputes were not the result of dissatisfaction with the investment management of the fund. Barclays has transferred its interests in Nylon to Alan Burnell as part of the settlement.