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The UK government has intervened to resolve a legal dispute between Kuwait's sovereign wealth fund and a former manager after a court ordered the fund to hand over 'sensitive' documents, Bloombe...
(Bloomberg) -- Kuwait’s sovereign wealth fund has been ordered to hand over “sensitive” documents in a London bonus dispute with some ex-mangers after it lost a London appeal over whether it could claim sovereign immunity.
3 Min Read LONDON (Reuters) - A lawyer representing the Kuwait Investment Authority’s London office has told an employment tribunal that the fund should be covered by diplomatic immunity in a legal wrangle involving former staff who accuse it of victimisation. Former fixed income head Simon Hard and another former staff member are pursuing an employment tribunal case against the Kuwait Investment Office (KIO), part of one of the world’s largest sovereign wealth funds, for alleged victimisation, discrimination and so-called whistleblowing detriment. The former employees are themselves bein...
Kuwait Fund Claims Immunity in Bonus Fight With Ex-Managers Bloomberg 2/3/2021 Jonathan Browning (Bloomberg) -- Kuwait’s sovereign wealth fund, in the middle of a lawsuit with former managers at its U.K. office, says diplomatic immunity means it can avoid handing over “sensitive” documents to the court. Popular Searches The Kuwait Investment Authority is challenging an employment claim from a former executive, Simon Hard, saying he raised salaries and bonuses while his boss was away. The fund’s London branch is appealing a “remarkable and invasive” order that it ...
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