Monday, 20 October 2014
Last updated 9 hours ago
Aug 25 2009 | 12:08pm ET
A British court has rejected a proposed settlement that could have allowed some of Lehman Brother’s European prime brokerage customers to get their money back.
Justice William Blackburne of the London High Court ruled the court did not have the jurisdiction to force dissidents to accept the plan offered by PricewaterhouseCoopers, the administrator for Lehman Brothers International Europe. PwC had asked the court to block any creditor claims after this year.
“This judgment is disappointing, as it could create further delay for many of LBIE’s clients,” Steven Pearson, joint administrator of LBIE, said after the ruling. He warned that it could mean that the hedge fund assets and those of Lehman’s creditors could be tied up for years.
Last month, PwC proposed a plan which could have unfrozen some of the $11 billion from 700 hedge funds that remains tied up in the Lehman bankruptcy proceedings.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...