Monday, 29 December 2014
Last updated 3 hours ago
Sep 26 2007 | 7:43am ET
The U.S. bankruptcy court judge who ordered two failed Bear Stearns hedge funds to file for bankruptcy in the U.S. has postponed the deadline he set to allow the funds to appeal his order.
U.S. Bankruptcy Judge Burton Lifland on Monday awarded the extension, without which creditors may begin to seize the funds’ assets on Sept. 29, however: Bear must return all funds transferred to the Cayman Islands, where the funds are registered, or an equal amount as bond, possibly as much as $8 million.
Lifland had rejected the fund’s and their Cayman Islands liquidators’ filing for Chapter 15 bankruptcy protection, which would allow them to liquidate in the Caymans. The liquidators have appealed his ruling.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.