Asset Manager On The Hook For Costs After Fee Fight Fails
Law360, London (April 10, 2019, 3:25 PM BST) -- A London judge has told an asset manager to pay £264,000 ($345,000) in court costs to hedge fund Napier Park and a Deutsche Bank subsidiary after losing its fee fight for managing securities last month.
High Court Chancellor Geoffrey Vos has instructed Barings (U.K.) Ltd. to fork over £180,000 for Napier's legal fees and another £84,00 to cover Deutsche Trustee Co. Ltd.'s costs after the asset manager lost its bid for incentive fees in March.
Payment is due April 25, according to the March 28 order.
Counsel for the parties could not immediately be reached for comment Wednesday.
The sum reflects the legal fees Napier and Deutsche...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!