UK financier loses latest round in fight over future of NSO Group

British investor Stephen Peel in ongoing dispute with partners over Luxembourg company linked to spyware firm

A British financier's voting rights at a Luxembourg company linked to Novalpina Capital, whose fund owns a majority stake in the spyware firm NSO Group, will remain suspended, a Luxembourg court has ruled.

Though this may not be permanent, the decision appears to mark a setback for the financier, Stephen Peel, a former Olympic rower, in a bitter legal dispute that has erupted between him and his two longtime business partners, Stefan Kowski and Bastian Lueken.