Millennium sues Dymon manager for HKD19.7m

Millennium Management has filed a claim in Hong Kong seeking HKD19.7 million from portfolio manager Tang Lin after she accepted a job offer from the multi-strategy hedge fund and then stayed with Dymon Asia Capital. The firm says the sum covers costs it incurred while preparing for Tang to join.

People familiar with the matter indicate Millennium’s claim refers to so-called “liquidation costs” tied to the aborted hiring process. The court filings do not specify when Tang accepted the offer or which exact expenses are included in the HKD19.7 million figure.

The dispute began at Hong Kong’s Labour Tribunal and was transferred to the High Court. A procedural hearing took place on Tuesday, during which lawyers for both sides agreed a timetable for exchanging documents. No further hearing date has been set.

Millennium, which manages roughly $92 billion, is seeking monetary recovery of the stated amount rather than injunctive relief. The High Court will oversee the exchange of evidence under the agreed timetable.

Representatives for Millennium and Dymon declined to comment, and Tang did not respond to requests for comment.