Kuwait Fund Must Hand Over Papers in Bonus Spat With Ex-Managers
- U.K. judge dismisses fund’s claims of diplomatic immunity
- Part of employment lawsuit with former U.K. managers
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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.
The Kuwait Investment Authority challenged an employment suit from former executive, Simon Hard, saying he raised salaries and bonuses for him and colleagues without permission.The fund’s London branch appealed a “remarkable and invasive” order that it provide internal emails and investment mandates claiming it was protected from having to do so because of its connection with the state.