Tycoon Can't Duck Interest On £43M Investor Deception Claim

Law360, London (October 23, 2019, 6:50 PM BST) -- An English appeals court on Wednesday dismissed a New Zealand tycoon’s attempt to challenge the method used to calculate interest on £43.5 million ($56 million) he was ordered to pay his former business partner over a long-running investment dispute.

Eric Watson was ordered to pay fellow New Zealander Owen Glenn the money last year after he was found to have gotten a £129 million investment from Glenn by fraudulent misrepresentation and engaged in “deliberate deception” when the pair set up a joint venture investment company.

Watson had sought to challenge the 6.5% rate of interest accruing on the award, arguing that...

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