Bruce Nagel Wins $2.7 million in Arbitration Against Hedge Fund

Bruce Nagel and Greg Kohn win arbitration against the Canadian hedge fund.  After two years of litigation, an arbitrator has awarded Six Point Partners $2.7 million in a suit against Canadian distress fund Catalyst Capital Group, managed by Newton Glassman. Six Point, a placement agent located in New York City, sued Catalyst for breach of contract after Catalyst failed to pay Six Point fees in connection with a $400 million raise for Catalyst Fund Limited Partnership III completed in April, 2011. Catalyst claimed that Six Point failed to perform under the placement agreement and sought a refund of the $530,000 it had paid to Six Point under the agreement. Rejecting this claim, the arbitrator, Dana Freyer, Esq. found that Six Point was entitled to fees due under the agreement.

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