Sunday, 31 August 2014
Last updated 1 day 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.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...