Reuters – Fund firm F&C Asset Management faces a bill of up to 14 million pounds ($22.4 million) after losing a high court battle with two fund managers over a hedge fund joint venture laid low by the credit crisis.
F&C had been trying to stop Francois Barthelemy and Anthony Culligan exercising a put option that would force F&C to buy their combined 40 percent stake in the F&C Partners joint venture, whose funds made big losses during the nadir of the crisis and which is now being wound down.
