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        <title><![CDATA[Hedge funder loses extra $360M after one of UK’s most expensive divorces]]></title>
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        <lastBuildDate>Fri, 31 Jul 2020 01:02:17 +0000</lastBuildDate>
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            <media:title type="html">Hedge funder loses extra $360M after one of UK’s most expensive divorces</media:title>
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        <content:encoded><![CDATA[<p>A billionaire who settled one of the UK’s most expensive divorces in 2014 was ordered to fork over an additional $360 million grant to his ex-wife’s charity this week.</p><p>Hedge funder Sir Christopher Hohn had been duking it out in British court with his ex, Jamie Cooper, since they split over whether a charity the couple co-founded — the Children’s Investment Fund Foundation — had to pay a $360 million grant to Cooper’s new charity, Big Win Philanthropy.</p><p>The Supreme Court explained of the case that, “Governance issues emerged when their marriage broke down. The parties agreed that Ms. Cooper should resign as a member and trustee of CIFF, and that CIFF should make a grant of $360 million to Big Win Philanthropy, a new charity founded by Ms. Cooper.”</p><p>An epic legal battle ensued, including two appeals. At issue was whether the court could rule on how the sole non-conflicted board member of the Children’s Investment Fund Foundation must vote on giving Cooper’s charity the grant.</p><p>Hohn is reportedly worth $5 billion and is one of the UK’s biggest charitable donors.</p><p>Matthew Dontzin and David Fleissig, of New York firm Dontzin Nagy &amp; Fleissig, led the team that repped Cooper throughout the dispute. Dontzin told Page Six in a statement: “The truth of her claim could not be denied no matter how many legal obstacles they tried to throw at her. This is a well-deserved and long overdue victory for Ms. Cooper.”</p><p>Hohn’s charity reportedly said in a statement that the ruling would have “no significant impact” on its work. Both charities help children in developing countries.</p>]]></content:encoded>
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