Friday, 29 March 2013

Former adviser sues Virgin Media for $100m

UK cable operator Virgin Media has been hit with a $100 million lawsuit in a New Jersey, US court. 
The plaintiff is investment manager W R Huff Asset Management, and they are alleging that they supplied Virgin (and its predecessors) with crisis management advice and in particular aided Telewest Communications and NTL with bankruptcy advice. 

Huff’s claim is that they provided Virgin’s predecessors with some 30,000 hours of consultancy and Chapter 11 advice. Bill Huff, president of W R Huff Asset Management, back in 2007 was on the boards of Telewest and NTL and helped bring about the eventual merger of the two struggling cable businesses and the ultimate involvement of Sir Richard Branson’s Virgin Grou


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