Bear Funds Appeal Liquidation Ruling

Sep 12 2007 | 7:49am ET

The liquidators of two failed Bear Stearns hedge funds are continuing their battle to liquidate the funds in the Cayman Islands, in spite of last month’s ruling requiring the proceedings to take place in the U.S.

KPMG’s Simon Lovell Clayton Whicker and Kristen Beighton appealed to U.S. Bankruptcy Judge Burton Lifland’s Aug. 30 ruling rejecting the funds’ filing for Chapter 15 bankruptcy protection. Chapter 15 would have allowed the funds to liquidate in the Caymans, which could have shielded their assets from some U.S. creditors.

Lifland said the High-Grade Structured Credit Strategies Fund and High-Grade Structured Credit Strategies Enhanced Leverage Fund operated primarily in the U.S., and as such could not avoid U.S. lawsuits by liquidating in the Caymans. Investors in the former fund are seeking an outside liquidator, asking Lifland last week to appoint FTI consulting.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...