Wednesday, 1 October 2014
Last updated 53 min ago
Aug 13 2007 | 8:57am ET
Investors burned by the collapse of the Bayou Group can continue to try to recoup money from those who got out early, a federal judge has ruled.
U.S. Bankruptcy Judge Adlai Hardin denied a pretrial motion by more than 20 former Bayou clients who got out before the fund went under in 2005, when its principals pleaded guilty to fraud, to toss lawsuits filed by Bayou investors who weren’t so lucky. The decision allows those lawsuits, which seek to recover the money to allow a more equitable distribution of what’s left to all former Bayou clients, to move forward.
Hardin ruled that Bayou’s investors are creditors of the failed hedge fund, rather than equity holders. As such, bankruptcy laws protect them from other creditors receiving favorable treatment.
Bayou’s receivers say that they are seeking money from 110 investors who redeemed early.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...