Fletcher Lawyers Quit In Dakota Case

Dec 6 2012 | 9:17am ET

Embattled hedge fund manager Alphonse Fletcher will have to find new lawyers to continue his lawsuit against his apartment building.

The Fletcher Asset Management chief, who sued the famed Dakota Apartments last year, accusing it of routine discrimination against minorities, had been represented by two firms. But both asked to withdraw from the case in October, and on Friday a state court judge gave them what they wanted.

One of the firms, Kasowitz Benson Torres & Friedman, said Fletcher had stopped paying his bills in April. The other, Vladeck Waldman Elias & Engelhard, cited "irreconcilable differences" with their client.

A Fletcher hedge fund, Fletcher International, which was forced into bankruptcy earlier this year by three Louisiana pension funds, owes more than $2 million to law firms, including almost $300,000 to Kasowitz.

Justice Eileen Rakower gave Fletcher until Dec. 20 to hire a new lawyer, and ordered him to produce documents requested by the Dakota—already overdue—by Jan. 7.

Fletcher has lived in the famed building, the former home of the Beatles' John Lennon and the site of his murder, since 1992. He sued the co-op after it rejected his bid to buy an apartment adjacent to his own, after questioning both the financial strength of Fletcher himself and of his hedge fund.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

The time was right

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 ...

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.