You are here: Home » Markets » News
Business Standard

Hedge fund may seize Ruias' super-yacht

The hearing took place under an English court procedure that allows creditors to get information that could help them enforce a ruling against a debtor's assets

Ruias Superyacht

Kit Chellel & Kaye Wiggins | Bloomberg  |  London 

First, Davidson Kempner Capital Management turned up the heat in its legal dispute with one of India's wealthiest families by seizing a private jet. Now, the New York hedge fund has set its sights on something else many billionaires can't live withouta luxury yacht. Davidson Kempner affiliate Midtown Acquisitions is trying to force Essar Global Fund Ltd, an investment vehicle controlled by India's Ruia family, to pay $200 million from a New York legal ruling. At a London hearing Tuesday, lawyers for the hedge fund questioned Nigel Bell, a director at Essar Global, about its ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, October 06 2017. 02:23 IST