Saturday, 20 September 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.