The European arm of mid-market U.S. buyout firm HIG Capital LLC and three of its affiliates were taken to court last month by Irish private equity firm Ocean Capital as they prepare to go to trial over how HIG Capital came to acquire a package of real estate loans from UBS AG's toxic asset fund.
The claimants in the case are Ocean Capital and Netherlands-registered Farraig BV, a company which used the real estate loans to acquire properties with Ocean Capital. Ocean and Farraig are both run by director Paul McGowan.
