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Asset Manager Wants Fees In Co-op Bank Property Fight

Law360, London (May 10, 2019, 11:20 AM BST) -- A British asset manager has scaled back its lawsuit accusing the Co-Op Bank of cutting it out of a hotel development project after a judge in London slashed some of its claims, saying the bank still owes it millions of pounds for resolving questions about a lease. 

Astra Asset Management U.K. Ltd. said in an updated filing at the High Court on May 3 that the bank owed it fees for clarifying who owned stakes in the lease of the Hilton Leeds Arena development in northern England. That work prompted Standard Life Assurance Ltd., which had a stake in the lease, to cancel its interest in the...

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