Sisu Takes Second Loss, Tax Charge

Aug 17 2011 | 12:49am ET

Distressed debt hedge fund Sisu Capital suffered its second-straight loss in its last fiscal year, one exacerbated by a six-figure adverse tax ruling.

The London-based firm posted a £272,300 pre-tax loss for the year ended March, City A.M. reports, an improvement on the previous year’s £376,3000 loss. But the loss balloons to £434,000 when a tax charge stemming from the hedge fund’s tax payments from 2006 through 2008 is figured in.

Sisu also paid its 25 staffers less last year, a total of £1.493 million, compared to £1.723 million a year earlier.

Sisu earned nearly £28 million in fiscal 2007 and 2008.

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