Sunday, 29 November 2015
Last updated 1 day ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…