Hedge Fund News From HedgeCo.Net

Hedge funds seek day in court with IBRC

Irish Times – Two Cayman Island hedge funds have appealed a US court ruling that State-owned Irish Bank Resolution Corporation can avail of sovereign immunity to avoid being sued in the US by bond holders who lost money in its restructuring.

The funds – Fir Tree Capital Opportunity Master Fund and Fir Tree Value Master Fund – bought $200 million (€148 million) of subordinated Anglo Irish Bank bonds in November 2010 and unsuccessfully sued the bank in the US courts in 2011 after the Government forced bondholders to take write-downs on the value of their subordinated bonds as part of the bank’s restructuring.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply