Fortress Targeted In $200M Clawback By Bankrupt Aussie Co.

Law360, New York (February 28, 2014, 7:05 PM EST) -- The liquidators of Australia-based property finance group Octaviar Administration Pty. Ltd. filed a $210 million clawback suit against a hedge fund managed by Fortress Investment Group LLC in New York court Friday, alleging Drawbridge siphoned off funds belonging to Octaviar while it was insolvent.

The liquidators, which have filed a similar suit in Australian court, allege that when Drawbridge Special Opportunities Fund LP caught wind of the deteriorating financial situation of the larger group of affiliated Octaviar companies, it devised a scheme to divert funds away from...
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