Hedge Fund’s Art of a Bankruptcy
CFO.com – Even hedge funds are not immune to the credit crunch. A small hedge fund that provided short-term debt to companies has filed for Chapter 11 bankruptcy protection. Greenwich,...
View ArticleNumber of hedge funds could halve in ’09
Reuters – Turmoil in financial markets could halve the number of hedge funds by next year, and the survivors will likely charge less for their service, an industry executive said on Monday....
View ArticleHarbinger Hedge May Be Looking to Rev Up Leap Management
New York (HedgeCo.Net) – Activist hedge fund Harbinger Capital might be looking to make some strategic changes to another management team. They are expected to hold talks with Leap Wireless...
View ArticleSoros fund ups Petrobras stake
Petroleumworld.com – The hedge fund of billionaire investor George Soros increased its stake in Brazilian state-run oil company Petroleo Brasileiro ( Petrobras) to 21.1 million American Depositary...
View ArticlePacificor Hedge Fund Faces Lawsuit
New York (HedgeCo.Net) – The hedge fund formerly run by the late Michael Klein has been sued by two individuals who owned a mortgage lending business in which the fund had a stake. John and Kitty...
View ArticleMerrill’s Thain seeking 2008 bonus of $10 million
Reuters – Merrill Lynch & Co Chief Executive John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million, but the battered company’s compensation committee is resisting...
View ArticleIs Marc Dreier a gang member? Prison officials want to know
New York Daily News – Is Park Ave. lawyer Marc Dreier a Blood? Or maybe a Crip? Federal prison officials are refusing to remove the accused hedge fund swindler from 24-hour lockdown until they...
View ArticleMadoff tries to stay out of jail as probe widens
Sify – Bernard Madoff, the long time Wall Street executive accused of cheating investors worldwide out of $50 billion, scrambled to find relatives or friends to guarantee his bond on Tuesday and keep...
View ArticleCSX Corp. Sue the Childrens Investment Fund
West Palm Beach (HedgeCo.net) – Transport company, CSX Corporation announced that it has joined in a civil action brought by the plaintiff, shareholder Deborah Donoghue, in federal court in New York...
View ArticleCSX settles case over alleged fund violations
CNNMoney.com – Railroad CSX Corp. said Wednesday it has settled a case of alleged securities law violations with two activist shareholder hedge funds. If the settlement is approved by a federal court,...
View Article$4bn Withdrawn from Nigeria Stock Market
Daily Guide – Foreign investors in the Nigerian capital market withdrew some $4 billion from the Nigeria Stock Exchange and precipitated its steep decline, the Exchange’s Director General, Professor...
View ArticleEuro shares rise for 5th session
Business Spectator – European shares jumped for a fifth straight session on Monday, led higher by financials, as investor sentiment improved following further assurances over the health of the US...
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