Now, the New York hedge fund has set its sights on something else many billionaires can’t live without: a luxury yacht. Davidson Kempner affiliate Midtown Acquisitions is trying to force Essar Global Fund Ltd., an investment vehicle controlled by India’s Ruia family, to pay $200 million from a New York legal ruling. At a London hearing Tuesday, lawyers for the hedge fund questioned Nigel Bell, a director at Essar Global, about its assets. Essar Global Fund guaranteed the debt, which wasn’t repaid in full. Bell, a non-executive director at Essar Global Fund, told the court that Chief Executive Officer Prashant Ruia had “significant but not total influence” over its activities.

Source: Mint October 05, 2017 14:23 UTC