Hedge Fund Fee Fight Erupts After $153M Fraud Award

Law360, London (February 10, 2020, 4:23 PM GMT) -- Liquidators fighting to recover money for creditors defrauded by a Saudi businessman have sued the hedge fund that financed their victory over an investment bank at the U.K.’s highest court, saying it is demanding $15 million more than what is owed.

Singularis Holdings Ltd. asked the High Court in a Jan. 21 court filing to settle a feud with Bermuda-based ChapelGate Credit Opportunity Master Fund over how much is owed under a litigation-funding contract.

The hedge fund paid for legal fees in Singularis' court fight against the investment bank, Daiwa Capital Markets Europe, which resulted in a landmark legal decision at...

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