Sunday, 23 November 2014
Last updated 1 day ago
Apr 25 2014 | 12:32pm ET
An Israeli real-estate group has accused hedge fund Duet Asset Management of breaking a deal to buy its stake in a Dutch company.
Habas Investments’ Dutch arm, Habas Tulip, sued Duet for failing to complete a €57 million deal for its 20% of Nieuwe Steen Investments. Habas said the two sides struck a binding accord in August, but that Duet failed to complete the transaction by the specified September closing date.
Habas, which is liquidating, said it was then forced to sell NSI shares at a lower price. It wants €13 billion in compensation and damages—and for Duet to pay €50 million for the rest of its NSI shares.
Duet has yet to respond to the litigation.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...