Hedge fund managers, the Bahamas and their mansions - part 2

Wednesday, 22 March 2017, 10:50 am

Readers might recall my tale from a couple of weeks ago about a dust up in the Bahamas between hedgie, David Kosoy of Sterling Financial Group, and local businessman Dr Fabrizio Zanaboni over a properties on the island called Ocean Terraces. Here is a link to the piece in case you don't remember:
https://www.betaville.co.uk/news/hedge-fund-managers-the-bahamas-and-their-mansions/

Well, I hear the judge is in the process of making a decision on the case but that hasn't stopped Mr Kosoy marketing the properties for sale for more than $14 million. Here is the link to the advert: http://www.sirbahamas.com/eng/sales/int/filter-full-address-ocean%20terrace.

I got in touch with the local Sotheby's Damianos estate agent - part of the auctioneers' real estate division - selling the properties to ask whether he was aware about the legal row between Kosoy and Zanaboni over ownership of the properties.

George Damianos, who runs Sotheby's Damianos in the Bahamas, said: "Er, I'm not 100pc sure that they (the properties) are in dispute. A prominent law firm in the Bahamas has indicated the seller has good title. I'm not overly concerned about it [the legal dispute]."

Given that Sotheby’s International Realty was, according to its website, "founded on the same reputation” as the auction house, I wonder if this dispute has yet attracted any attention at Sotheby’s New York head office?..

[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

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