Dallas Morning News – An Amarillo charitable foundation is suing Dallas-based Highland Capital Management LP to recover more than $1.8 million from a Highland hedge fund that was shut down in October after heavy losses.
The Mary E. Bivins Foundation, which focuses on helping the elderly, had asked to withdraw its investment from a fund called Highland Credit Strategies in March.
Highland agreed to return more than $1.9 million as of July 1 but said it would pay the money back over nine months, the foundation said in a lawsuit filed last month in Amarillo. It has given back only $80,000 so far, the lawsuit said.
