Asset Manager Can't Get Finder's Fees From UK Hedge Fund
Law360, London (December 20, 2018, 11:18 PM GMT) -- A claim brought by an asset manager against a London-based hedge fund over unpaid introducer fees was dismissed by London's High Court on Thursday, with the judge concluding that the construction of various agreements between the parties did not warrant the additional fees being sought.
Judge Clare Moulder ruled against Blackstar Advisors Ltd., saying that its claim that it is owed outstanding fees from two subsidiaries of Cheyne Capital International Ltd. group fails. The judge decided that because the fee-sharing agreements the companies entered into changed dramatically over time, the fee calculation Blackstar asked for was no longer applicable.
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