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Funder lays claim to Broadsheet's US$29 million Pakistan award


Funder lays claim to Broadsheet’s US$29 million Pakistan award
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Broadsheet LLC faces legal claim from Cayman Island hedge fund
VR Global has claimed in its US filing that it gave Broadsheet US$6 million in 2017 through a legal contract in exchange for a “priority lien” over the proceeds of the arbitration against Pakistan
Broadsheet was hired by Pakistan more than two decades ago to trace assets belonging to Nawaz Sharif
LONDON: The Broadsheet LLC is facing a legal claim for almost the full award amount of around $29 million from the Pakistan government, from a Cayman Island hedge fund that provided funds to Broadsheet’s lawyers to finance arbitration proceedings against Pakistan at the London High Court’s Financial Division and a court in the Isle of Man has prevented the Broadsheet liquidator from distributing monies to Broadsheet’s creditors unless a decision is made on the application by the funder, according to court papers reviewed by ....

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