A Kuwaiti company suing the Carlyle Group over a $25 million
investment that went bad is now accusing the private equity firm of marketing
the deal without a license as it seeks to have its case heard in Kuwaiti
courts. The latest claim by Kuwait's
National Industries Group adds a new twist to its more than two-and-a-half year
legal challenge to Carlyle, and could complicate the American company's
relationships with other wealthy Mideast investors.
NIG's lawsuit focuses on a Carlyle investment fund that was
one of the earliest casualties of the financial crisis when it collapsed in
2008. The fund has been the subject of multiple lawsuits against
Washington-based Carlyle. In a motion
filed this month with a Delaware court hearing the case, NIG argues that the
dispute should be heard in Kuwait because Carlyle lacked the legal basis to
pitch the deal there in the first place…..
No comments:
Post a Comment