Sunday, 19 April 2015
Last updated 23 hours ago
Feb 27 2013 | 12:36pm ET
Aurelius Capital Management is backing JPMorgan Chase's bid to seek nearly $1 billion from collapsed futures brokerage MF Global Holdings.
The activist hedge fund on Monday asked a bankruptcy court to allow the bank to seek $928 million in claims in an effort to recover money for creditors of an MF Global subsidiary. Aurelius said JPMorgan's suit is necessary "to avoid unduly prejudicing Finco's estate and its creditors," and because MF Global itself is conflicted.
The filing Monday puts Aurelius on collision course with three hedge funds who have filed their own creditor-payback plan, one that would favor customers over creditors of the holding company. Aurelius and JPMorgan also argue that the $928 million in claims are double-counted in that plan, filed last month by Cyrus Capital Partners, Knighthead Capital Management and Silver Point Capital.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…