Hedge Fund Arm’s Investment Could Flout Sudan SanctionsMarch 3, 2016 – In The News
Nevena Simidjiyska was featured in the Law360 article, "Hedge Fund Arm's Investment Could Flout Sudan Sanctions." Full text can be found in the March 3, 2016, issue, but a synopsis is below.
A foreign-registered unit located in the Cayman Islands and owned by New Jersey-based Yorkville Advisors, has invested nearly $8 million into a mining operation that is taking place in Sudan.
Due to sanctions placed on the African nation by the United States, Yorkville Advisors, who serves as the parent company, may be in violation of the law.
“If the U.S. parent is financing its foreign affiliate and the financing is used by the project in Sudan, that could be considered a prohibited transaction,” said Fox Rothschild's Nevena Simidjiyska.
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