One of Scotland's Best-Known Asset Managers, Douglas Ferrans, Is Suing... [Derived Headline]
Sunday Herald › November 27, 2011
Linked as:
Summary
One of Scotland's best-known asset managers, Douglas Ferrans, is suing Lloyds Banking Group over alleged non-payment of fees to the Aim-listed fund company which he chairs. Lloyds, which last week saw its shares tumble on reports of boardroom "chaos", is the majority shareholder in the fund.
Invista Real Estate Investment Management Holdings, headed by Ferrans, which specialises in managing property funds for third- party investors, and which is 55%-owned by Lloyds, is taking legal taken action in the High Court in London over the City-based institution's alleged failure to pay some pound(s)545,600 in unpaid fees.See the full content of this document
Extract
One of Scotland's Best-Known Asset Managers, Douglas Ferrans, Is Suing... [Derived Headline]
Invista claims the money is owed in the wake of the bank's decision to terminate a five-year investment management contract with HBOS and other Lloyds subsidiaries in October 2010.
At the time, Ll...See the full content of this document
Sponsored links
