Ex-Och-Ziff Manager Sues Again, Going After Real-Estate Lawyer

Apr 14 2011 | 1:32am ET

A litigious former Och-Ziff Capital Management hedge fund manager is back in court in Singapore. But this time, instead of suing his former employer, he’s suing his old real-estate lawyer.

According to Zain Fancy, law firm Tan Peng Chin and its real-estate hedge Gwendoline Ong failed to tell him that he had to pay the seller of a S$18.5 million bungalow in the city-state a deposit directly, causing the deal to collapse. Fancy is seeking damages and the S$10 million difference in value between what he agreed to pay for the house and its current valuation.

Fancy sued after Tan Peng Chin itself sued him to cap its liability, Bloomberg News reports. Fancy called that move “frivolous and vexatious.”

“It’s clearly unfair for me to be made a defendant in such legal proceedings as this could adversely impact my reputation and standing,” Fancy complained in his court filing.

Last month, Fancy sued Och-Ziff, both in Singapore and London, for wrongful termination. Och-Ziff said it fired Fancy two years after hiring him from Morgan Stanley because Fancy failed to disclose pending criminal and regulatory investigations of himself and his unit at the investment bank. Fancy claims that Och-Ziff still owes him US$8 million.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.