Chinese Fund, Game Developer Settle $530M Acquisition Suit
Law360, London (December 23, 2020, 12:37 PM GMT) -- A Chinese asset manager has settled its lawsuit against a British video game developer seeking to settle whether the U.K. company was sold to a U.S. hedge fund for $530 million even though a freezing order had been imposed in China because of an unpaid loan.
Judge Matthew Marsh dismissed China Minsheng Trust Co. Ltd.'s High Court lawsuit against Jagex Ltd., the Cambridge-based developer of the online role-playing game RuneScape, according to a Dec. 16 consent order.
The Beijing-based trust and fund manager wanted to establish under the proceedings whether U.S. asset manager Macarthur Fortune had bought the company for $530 million.
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