RBS Sued by Hedge Fund Over Withdrawn ABN Investment, FT Says
Wednesday, July 23, 2008 : PermalinkBloomberg- Royal Bank of Scotland Group Plc has been sued by London-based hedge fund Merebis Capital Management LLP for reversing a 250 million-euro ($395 million) investment in Merebis by ABN Amro shortly after RBS acquired the Dutch bank, the Financial Times reported.
Merebis claims in a case filed in London’s High Court that it is owed a penalty fee of 17.8 million pounds ($35 million) for the early withdrawal by ABN, which was repaid most of its investment this month, leading to the closing of the hedge fund, the newspaper said.
Tags: abn-amro-holding, abn-amro-holding-nv, court-hearing, finance, intangible-assets, investment-firm, investment-funds, money-managers, royal-bank-of-scotland, solvency-ratios, tci-fund-management, undisclosed-sum
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