British industrialist Sanjeev Gupta has accused former Macquarie dealmaker Ben Brazil of filing an illogical and spurious claim against his InfraBuild steelmaking operation, asking a court to throw out an attempt to force the repayment of an $800 million debt.

The Australian Financial Review reported last month that Brazil’s London-headquartered hedge fund, FitzWalter Capital Partners, had claimed InfraBuild was in breach of an agreement with bondholders because there had been a fundamental change in who owned the business.