Asset Manager Gets OK To Appeal €15M Fee Payout Ruling

Law360, London (April 16, 2019, 5:40 PM BST) -- A dispute between two asset managers over a potential €15.3 million ($17.27 million) management fee for securities held in trust by a Deutsche Bank subsidiary will head to the Court of Appeal after a judge in London formally gave his permission.

Judge Geoffrey Vos has allowed a challenge to his March 28 decision, which concluded that hedge fund giant Napier Park’s decision to redeem a host of risky equity notes in 2018 did not trigger an automatic incentive payment to Barings (U.K.) Ltd.

“Whilst I reached a clear view as to the proper interpretation of the transaction documentation, I took the...

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