Wednesday, 27 August 2014
Last updated 5 min ago
Dec 19 2011 | 2:24pm ET
A private equity firm has won a ruling that would force a Commerzbank unit to pony up payments it had stopped on profit certificates.
The victory, on appeal, by Crown Ocean Capital, is the second time Commerz-owned Eurohypo has been defeated on the issue in the German courts. Earlier this year, hedge fund QVT Financial also won a ruling on the matter.
A lower court had ruled that Eurohypo, which Commerz acquired in 2005, could stop payments on profit certificates—issued by Rheinhyp AG, latter bought by Eurohypo—in 2009 after recording a loss. Commerz is considering an appeal.
"The ruling for the first time clarifies an important legal issue: How do you indemnify profit certificate investors in a takeover?" Crown Ocean lawyer Klaus Steiner told Bloomberg News. "The court reasoned that you have to grant them protection similar to shareholders in that situation under German law."
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 ...