Bruce Nagel Wins $2.7 million in Arbitration Against Hedge Fund
Bruce Nagel and Greg Kohn win arbitration against 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 $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.
The attorneys at Nagel Rice, LLP represent clients throughout New York and New Jersey in a wide range of matters including personal injury, automobile accidents, brain injuries, medical malpractice, business litigation and class action cases.
Posted in: Firm News