Tue, Dec 12, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Paris Court of Appeal cancels AMF’s suit against three hedge funds

Monday, November 04, 2013

Benedicte Gravrand, Opalesque Geneva:

On 24th October, the Court of Appeal in Paris cancelled a decision previously made by the AMF, the French financial watchdog, in February 2012 to condemn three fund management companies and fine them a total of Eur6.3m ($8.5m), on a technical basis.

This was confirmed by lawyers for two of the funds, from the firms De Pardieu Brocas Maffei and Olivier Schnerb, who said the Court of Appeal’s decision to cancel AMF’s charges was based on what it perceived had been a violation of European human rights, which guarantee a fair lawsuit and an impartial tribunal, reports Agefi. Indeed, some members of the deliberation committee had been changed without respect for the proper delays, and one may have presented conflicts of interest.

The attorneys represent the hedge funds Geneva based-Coudree Capital Management, which was fined Eur2.5m ($3.37m) and Compania Internacional Financiera, which was fined Eur2.2m ($2.96m). The third entity is CMA Capital Partners, a private equity......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. Opalesque Exclusive: Credit Suisse Asset Management's NEXT Investors leads $6M Series A round for LUX Technology and Services[more]

    Bailey McCann, Opalesque New York: Credit Suisse Asset Management's NEXT Investors has led a $6 million Series A funding round for LUX Technology and Services, a business and technology solutions provider for the alternative assets industry. The investment will be used to fuel growth of Trans