Tuesday, 21 October 2014
Last updated 2 hours ago
Mar 6 2008 | 12:23pm ET
Activist hedge fund QVT has won an interim court injunction preventing Kazakhstan’s ATF Bank from using the UniCredit name or brand in its advertising. QVT, together with Artradis, a Singapore-based hedge-fund, is seeking fair value for its preference shareholdings in ATF Bank, following the acquisition of a majority stake by UniCredit subsidiary Bank Austria CreditAnstalt last year.
On Feb. 15, QVT filed a lawsuit against ATF Bank seeking to prohibit the bank from advertising itself as "a member of the UniCredit Group" and/or using UniCredit's logo and name in its advertising. This week, the Specialized Interdistrict Economic Court of Almaty, Kazahkstan, issued a ruling imposing an interim injunction on ATF Bank. In particular, the court mandated that ATF Bank must suspend the use of UniCredit's logo and/or its name in its advertisements until the court issues its final decision on the claim requesting to prohibit advertising of UniCredit by ATF Bank, a public company listed on Kazakh Stock Exchange.
“We are very pleased that the Kazakhstan courts have seen fit to support our application for injunctive relief against ATF Bank to prevent their premature advertising of the UniCredit brand in Kazakhstan,” Angelo Moskov, CEO of QVT said. “The approach of ATF and Unicredit to this issue seems typical of their 'lowest common denominator' approach to international corporate governance standards.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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