PE Fund Must Pay £1.5M In Security For Suit Against Arundel
Law360, London (February 1, 2019, 9:50 PM GMT) -- A High Court judge in London ordered a private equity real estate fund suing a Swiss investment banking and management group to provide £1.5 million ($1.96 million) in security to ensure the defendant's legal costs are covered if the fund loses its case.
European Real Estate Debt Fund (Cayman) Ltd. filed a claim against Arundel Group Ltd., Arundel Deputy Chairman Doraiswamy Srinivas and businessman Anoup Treon in 2017.
Treon and the Arundel Group defendants petitioned the court for an order requiring the private equity fund to acquire the “after-the-event” insurance.
The request was granted by Master Nigel Price, according to a...
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