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He held a press conference following his release on bail and spoke of his "bitter disappointment" at the way the raid and his arrest had been handled.
Among his complaints was that the police arrived at his home at 6am accompanied by photographers from a national newspaper.
He said he believed he had only been arrested because he was a "high-profile" figure.
A total of nine people are on bail in connection with the continuing City of London Police inquiry, with the most recent being Birmingham City co-owner David Sullivan and managing director Karren Brady who were arrested and questioned.
Lord Justice Latham and Mr Justice Underhill will consider his application for judicial review at a one-day hearing at London's High Court.
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