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NSO Group’s private equity manager risks being ousted in court battle

The American consulting firm that oversees the Israeli spyware maker NSO Group risks postponing the job after a judge in London ruled that a legal proposal to dismiss it could go to trial.

Judge Joanna Smith on Monday dismissed A. case Brought in by Berkeley Research Group, a California company that was brought in last year to run the billion-euro private equity fund that owns the black-listed cyber group. BRG has requested an urgent restraining order to block an attempt to remove her from office.

This is the latest sign of a storm for the fund raised by NoblePina Capital, whose investment in shares in NSO was considered “worthless” and caught in a storm last year.

BRG was brought last summer to Replace the original founders of the fund – A trio of creators of transactions in Novalpina Capital – who were fired for doing so Fell so hard That investors have decided they can no longer run the fund together.

BRG said in a London court case that two of the deposed Noblepina founders, Stefan Kowski and Bastian Loiken, tried to remove him Take back control of the fund Through Luxembourg claims. She asked the London court to “curb” what he called a “vicious and unpredictable campaign”.

Smith dismissed the BRG case, however, and said in a ruling on Monday that the lawsuits should be allowed in Luxembourg. It refused to give BRG leave to appeal, meaning it had to go directly to the Court of Appeals to seek leave if it wished to appeal the decision.

“We have sought a restraining order to prevent Noblepina founders from taking actions that we consider to be illegitimate and harmful,” a BRG spokesman said.

He is considering an appeal, he said. “Otherwise, we will have an opportunity to protect ourselves and our investors from this abusive, destructive and insolent lawsuit in Luxembourg later this month,” he added.

Kowski and Luken both deny giving instructions to start in Luxembourg cases.

Kowski said he was “grateful” that the judge “delivered a clear and considered verdict, completely rejected BRG’s application for a restraining order against a lawsuit and stopped all proceedings that BRG has opened against me.” He called BRG’s claims “unjustified”.

Loiken said: “The allegations raised against me by BRG were completely baseless, which was confirmed by the court ruling today.”

Smith said in her ruling that there is a “serious issue to be judged” on whether Kowski is behind the Luxembourg cases, but she “can not be so pleased” with Lucan.

The judge said there was no “high probability” that the two co-founders had made a valid agreement with BRG not to sue.

In filing the lawsuit outlining his case, Kowski said BRG “is mismanaging the fund and causing it to lose a battle.” He said she “refused” to appoint a valuer to perform a valuation of the fund, which would need to determine how much money the founding partners would receive.

The lawsuit raises new uncertainty about the future of the fund – owned companies, which include Estonian gambling business Olympic Entertainment Group and French pharmaceutical group Laboratoire XO as well as NSO.

NSO Group’s private equity manager risks being ousted in court battle Source link NSO Group’s private equity manager risks being ousted in court battle

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