Queensgate Investments Loses Ruling on Racism, Fraud Claims - Bloomberg
A private equity fund backed by families in Hong Kong and Qatar lost a bid to keep claims of fraud, racism and anti-Semitism away from public scrutiny.
London-based Queensgate Investments LLP wanted to hold further court proceedings in private. But Judge James Tayler said the upcoming hearing should be in public, saying investors and others shouldn’t be prevented from learning about claims alleging financial misconduct.
“It may well be that mere allegations may affect their investment decisions but, save in the most exceptional circumstances, that is a necessary consequence of open justice,” said Tayler, a judge on the Employment Appeal Tribunal in London.
Jonathan Millet, Queensgate’s former head of acquisition, said in an employment lawsuit that he filed after he was laid off last year that the fund’s chief executive misled investors and lenders.
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