The Crown Court dismissed the U.K. Serious Fraud Office's charges against Barclays PLC and unit Barclays Bank PLC regarding a controversial capital increase carried out by the British banking group in 2008.

Specifically, the court dismissed two charges against Barclays of allegedly conspiring with certain former senior officials and employees to commit fraud through false representations related to two advisory services agreements with Qatar Holding LLC that took place in June and October 2008.

The court also cleared Barclays and Barclays Bank of one charge each of unlawful financial assistance connected to a $3 billion loan facility made available to Qatar in November of the same year.

Barclays said the SFO will potentially seek to reinstate the charges by applying to the U.K. High Court to recommence proceedings through a new indictment of the same charges.