Asset Managers Secure $233M Freezing Order In Dutch Courts
By Joanne Faulkner (September 10, 2019, 6:35 PM BST) -- A Dutch judge has frozen $233 million worth of assets belonging to Indian technology infrastructure provider Rolta amid a multi-jurisdictional battle with two asset managers over defaulted bonds.
Pinpoint Asset Management and Value Partners Group Ltd. won an order in Amsterdam's District Court blocking the multinational from moving a number of assets, according to documents provided to Law360 on Monday.
The asset managers had invested in debt notes issued by subsidiaries of Rolta and then guaranteed by a number of other companies within the Rolta group around the world. Rolta failed to make interest payments on the bonds and then defaulted...
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