West Palm Beach (HedgeCo.net) – Alternative investor, Polygon Investment Partners LLP has agreed not to further oppose the restructuring of the company by British Energy and other shareholders, in exchange the shareholders and British Energy have agreed to stop all outstanding legal actions against Polygon.

In the circumstances, Polygon believes that there is no commercial logic in proceeding with the EGM or supporting the proposed resolutions.

Polygon has also frozen redemptions on their $4bn flagship multi-strategy fund, Global Opportunities, while it unwinds the fund and returns money to investors.

Polygon Investment Partners LLP ("Polygon") is a global private investment firm based in London and New York, investing in a wide range of publicly traded securities. The firm currently has over $1.35 billion under management.

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Business Standard – Tatas’ voting powers in Bermuda-based hotel firm to rise if shareholders approve reclassification of shares.

The Tata group-controlled Indian Hotels Company’s voting power in Orient Express Hotels (OEH) will increase if the shareholders vote for annulling the powers of its class B shares.

This, if it goes through, will be beneficial for Indian Hotels, which had earlier made unsuccessful attempts to increase stake in the Bermuda-based luxury hotel chain.

OEH has convened a shareholder’s meeting on October 10 to get shareholders’ approval. The directors of OEH, who hold 81.2 per cent voting rights, have asked shareholders to “vote against the resolutions as these are contrary to the best interests of the company” in a statement issued in Bermuda.

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