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|Appeals court upholds hedge fund's judgment,[url=http://parajumpersparka.webmium.com/][b]Parajumpers Parka Online[/b][/url]
Former Minnesota Vikings co-owner James Jundt of Wayzata lost another round Tuesday inside a $1,[url=http://woolricharcticparkaherenoutlet.olimx.com/][b]Woolrich Arctic Parka[/b][/url].8 million legal dispute once the state Court of Appeals ruled in favor of a former money manager at Jundt Associates Inc. (JAI),[url=http://duveticapiuminiitalia.webmium.com/][b]Duvetica Down Jackets Uomo[/b][/url].
Fund manager Paul Bottum filed case in Hennepin County District Court in 2006, saying Jundt, chairman of JAI,[url=http://woolrichswedense.albirank.net/][b]woolrich arctic parka sweden[/b][/url], and the son,[url=http://duveticaaustraliaoutlet.halod.com/][b]duvetica down jackets sale[/b][/url], Marcus,[url=http://parajumpersparka.webmium.com/][b]Parajumpers Coat Online[/b][/url], reneged on a promise to pay for Bottum a $1 million bonus for each year the hedge fund he managed outperformed the Standard Poor's 500 index.
"From the start, Mr. Bottum has simply been seeking payment of the bonus he was promised. Today, he is another step nearer to achieving justice," said his lawyer, Andrew Parker, responding towards the ruling.
The firm earlier paid Bottum $1 million plus interest but disputed the remaining $825,[url=http://woolricharcticparkaherenoutlet.olimx.com/][b]Woolrich Arctic Parka Heren[/b][/url],000,[url=http://monclerjackasverige.albirank.net/][b]moncler Jackor[/b][/url], saying the time limit barred the claim, which involved the 2000 bonus.
The appellate court upheld the judgment against JAI,[url=http://billigeparajumpersjackendamen.albirank.net/][b]Billige Parajumpers jacken[/b][/url], that is closed. In a 24-page decision written by Judge Michelle Larkin and signed by Judges Heidi Schellhas and David Minge, the court upheld the $825,[url=http://parajumpersoutletitalia.albirank.net/][b]parajumpers italia[/b][/url],000 but rejected the payment of $126,351 in fees to Parker.
"While we continue to believe the Jundts engaged in sanctionable conduct, we view the court's decision and hope this will be the final chapter within this matter,[url=http://billigtmonclerdunjackastockholmrea.olimx.com/][b]Moncler Jacka Sverige[/b][/url]," Parker said.
Firm reneges on promises
The case has a long history. In August 2007, Hennepin County Judge Gary Larson determined the firm owed Bottum $1.8 million in unpaid bonuses plus interest.
According to the appellate court's findings:
In September 2000, Marcus Jundt, the firm's majority owner, told Bottum the Jundts are "honorable men" and that he would honor his father's promise regarding the $1 million bonus.
But when Bottum outperformed the S 500 that year,[url=http://woolricharcticparkaherenoutlet.olimx.com/][b]http://woolricharcticparkaherenoutlet.olimx.com/[/b][/url], Marcus Jundt told him he did not have the cash to pay him. In late 2002,[url=http://woolricharcticparkaherenoutlet.olimx.com/][b]Woolrich Arctic Parka Heren Outlet Woolrich Parka Sale Dames[/b][/url], Marcus Jundt explained that his pending divorce was hindering his capability to spend the money for bonus, but he assured Bottum the cash would come when the divorce was complete.
Bottum's salary was increased, and he was partially paid the bonus,[url=http://woolrichswedense.albirank.net/][b]http://woolrichswedense.albirank.net/[/b][/url], but he earned another for 2003. The Jundts confirmed in 2004 that they owed Bottum $1.825 million but said they couldn't pay for fear Marcus Jundt's wife would "go after his wallet."
Larson -- and today the appellate court -- determined the firm had reneged on offers to pay Bottum bonuses associated with the hedge fund's performance in 2000 and 2003,[url=http://duveticaaustraliaoutlet.halod.com/][b]duvetica jackets aliaoutlet outlet[/b][/url].相关的主题文章：