Sunday, 21 September 2014
Last updated 2 days 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.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.