$19M Award Affirmed For Oaktree In Spat With Manager

Law360, New York (February 23, 2010, 1:12 PM EST) -- A California appeals court has affirmed an arbitration award of $19 million in damages and fees for hedge fund Oaktree Capital Management LP in its dispute with a former manager who allegedly tried to woo investors from Oaktree for his own startup private equity fund.

In a ruling handed down Monday, the Court of Appeal of the State of California, Second Appellate District, affirmed the arbitration award of $12.3 million, plus $6.7 million in attorneys' fees, against ex-manager Russel S. Bernard, finding that the award was...
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