Bayou Receiver Gets OK On Liquidation Plan

Dec 28 2009 | 1:45pm ET

The Bayou Group collapsed more than four years ago. The hedge fund’s masterminds, who defrauded investors of some $450 million, are behind bars. And now, the Stamford, Conn.-based firm’s story is finally coming to an end.

A judge has approved the Bayou receiver’s liquidation plan. The court’s confirmation order will force Bayou investors, like those of other recent hedge fund frauds, to return any fictitious profits they withdrew prior to the firm’s 2005 collapse. The judge also ruled that investors who had suspected something was amiss at the firm had to return any principal they withdrew.

The plan also details how the recovered assets are to be returned.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...