Kazakh Paper Co. Denies Agreeing To Bump Funder's Fees

Law360, London (November 7, 2019, 5:10 PM GMT) -- A Kazakh paper and packaging company has hit back against a litigation funder's bid to recover some $170 million lent to finance the company's fraud lawsuit, telling a London judge that the arrangement was never formally finalized. 

Kazakhstan Kagazy JSC argued in a defense filing submitted to the High Court that neither the company nor its creditors and high-level managers signed off on variations to its financing agreement with Harbour Fund III purportedly promising the litigation funder a big return on its loan. 

In particular, Kazakhstan Kagazy cited an email in which a temporary manager appointed to oversee the company, Tomas Mateos...

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