![]() “Following the acquisition of the management company Luxembourg Fund Partners (LFP) in December 2017, Alter Domus became aware that between the years 2013 to 2016 significant issues had occurred at the Columna Commodities Fund (in liquidation as of February 2017) – a LFP I SICAV S.A. “LFP I SICAV SIF is suing ADMC for the investment losses incurred by Columna, while managed by ADMC, in the amount of US$53,925,000 and €410,000, plus interest, as well as management & performance fees in the amount of €1,720,260.37 for the period 2013-2016.”Īlter Domus said in a statement to Delano on 19 April that: According to the plaintiff’s press release: The new board filed the case in Luxembourg City district court on 16 April 2019. A new board of directors took over management of LFP I SICAV from Alter Domus in February 2019. The Columna Commodities sub-fund was liquidated in February 2017, according to the plaintiffs. But it then closed abruptly in December 2016 without returning any of its assets.” “Columna made double-digit gains in 2014, 20 investing in a range of commodity products, according to information it sent its investors. ![]() Reuters news agency reported on 18 April that: Luxembourg Fund Partners was renamed Alter Domus Management Company after its takeover was completed in March 2018. ![]() LFP I SICAV was run by a management company called Luxembourg Fund Partners. The alleged misconduct surrounds the Columna Commodities sub-fund, which was part of the LFP I SICAV umbrella fund, according to a legal document seen by Delano. The case involves a company acquired by Alter Domus in December 2017 Alter Domus said this week that it has been investigating “historical activity” at the outfit and is cooperating with authorities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |