Harbinger Seeks Payout for Northern Rock Stake in U.K. Appeal
This article is for subscribers only.
Harbinger Capital Partners LLC will try to convince a London appeals judge that its stake in Northern Rock Asset Management Plc wasn’t worthless when the British lender was nationalized.
In a trial starting today, billionaire Philip Falcone’s hedge fund will argue the stake was worth as much as 400 million pounds ($633.9 million) before Northern Rock was rescued by the British government in 2008.