Thursday, 25 December 2014
Last updated 1 day ago
Nov 20 2009 | 1:23pm ET
Carl Icahn’s bid to keep Steel Partners from consummating its controversial plan to convert its flagship hedge fund into a publicly-traded partnership has failed.
Already stymied in his effort to block the reorganization of the onshore version of Steel Partners II in the U.S. this summer, when a Delaware court dismissed its lawsuit, Icahn and his partners have now lost the fight on the offshore fund. A Cayman Islands court yesterday refused Icahn’s petition to stop Steel’s plans. Icahn’s ACF Master Fund and another investor had sought to have Steel II liquidated.
The court ruled that shutting the fund down would not be “just and equitable.”
“We are gratified that both the Cayman Islands Grand Court and the Delaware Supreme Court have rejected the plaintiffs claims, which we always believed were without merit,” Steel chief Warren Lichtenstein said.
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.