Hedge Fund SageCrest Seeks Bankruptcy Protection
Aug 19 2008 | 8:06am ET
A troubled Greenwich, Conn., hedge fund has filed for bankruptcy in an effort to head off a forced asset sale.
Windmill Management’s SageCrest Finance and SageCrest II filed for Chapter 11 bankruptcy protection yesterday in U.S. Bankruptcy Court in Bridgeport, Conn. In a letter to investors, the firm said the filing was needed to ensure an orderly liquidation to prevent further losses to investors.
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