Saturday, 30 August 2014
Last updated 22 hours ago
Oct 22 2010 | 10:00am ET
One New York hedge fund is not happy with his neighbor's bathing habits.
Pardus Capital Management founder Karim Samii has sued Daphne Guinness, the heiress to the brewing fortune, is seeking $1 million for damages from at least four floods, allegedly caused when Guinness allowed her bathtub to overflow. Samii and his wife, Tina, live below Guinness on the 10th floor of the exclusive apartment building opposite the Metropolitan Museum of Art.
The couple are also asking the court to bar Guinness from taking a bath until she takes "all remedial measures necessary" to keep her bathwater out of their apartment.
The trouble began two-and-a-half years ago, after Guinness bought her apartment for $15 million, when contractors caused "large amounts of water" to follow gravity into the Samii's apartment, the suit alleges. Last year, they were inundated three more times, primarily because Guinness apparently makes a habit of not paying attention when running a bath.
On May 9 of last year, the Samiis say, Guinness was "in the kitchen talking on the phone and was surprised by the disturbance" of being notified her faucet was filling up the Samii's bathroom as well as her bathtub.
"Ms. Guinness' lack of care and reckless disregard for the consequences of her behaviour have caused [the Samiis] anxiety and distress," the suit alleges. The hedge fund manager and his wife claim that they "are fearful of leaving their premises unattended, not knowing when Ms. Guinness' willful misconduct will cause another flood to their premises."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...