Saturday, 26 July 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…