Sunday, 21 December 2014
Last updated 1 day ago
Feb 2 2012 | 10:04am ET
A federal bankruptcy court judge has approved a hedge fund's claim against Washington Mutual.
Tranquility Master Fund claims it was misled into buying $71 million worth of mortgage-backed securities from the bankrupt bank. U.S. Bankruptcy Judge Mary Walrath ruled yesterday that the hedge fund can asset claims of up to $10 million for the purpose of voting on WaMu's latest bankruptcy exit plan. Walrath will consider that plan later this month.
At the same hearing, Walrath will decide whether to approve a settlement between WaMu and Tranquility under which the latter would drop a $49 million claim against the former in exchange for a general unsecured claim of $9 million and as much as $1 million more, if there is any money left after repayment of other creditors.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.