February 14, 2019 / 2:23 PM / 9 months ago

Manulife highly confident about hedge fund court case outcome

TORONTO, Feb 14 (Reuters) - Manulife Financial Corp’s chief executive said on Thursday the company was highly confident of winning a case brought against it by hedge fund Mosten, which says it has the right to put unlimited funds into universal life policies.

The latest hearing in the case, which Manulife’s own expert witness has warned could be financially damaging to the company if the verdict goes against it, is taking place this week in the province of Saskatchewan.

“I’m not going to speculate on what the judge is going to say, but we’re highly confident about the position that we have and that we’re ultimately going to prevail in this matter,” CEO Roy Gori said on a conference call. (Reporting by Matt Scuffham; editing by Jonathan Oatis)

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