Och-Ziff Reaches Tentative Deal In $421.8M Restitution Bid

Law360 (July 14, 2020, 10:10 PM EDT) -- Investors who claim their rights to a Congolese mine were stolen by the African unit of Och-Ziff Capital Management Group told a New York federal judge the parties have "structured a settlement framework" that could resolve their bid for $421.8 million in restitution.

In a letter to U.S. District Judge Nicholas G. Garaufis on Monday, the investors in Africo Resources Ltd. said the deal reached with OZ Africa Management GP LLC could only go forward if the judge agreed to order that only the victims already represented in the action would be entitled to the still-undisclosed restitution payment, and that the...

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