Investors force Wallace out
Friday, March 27, 2009 : PermalinkWA Today – Richard Wallace has been ousted from the hedge fund he founded after the listed asset manager made losing bets throughout the financial crisis.
Mr Wallace, who is based in Sydney, will no longer manage the Australian-listed hedge fund for Wallace Absolute Return after the Supreme Court of NSW dismissed an injunction he filed seeking to block a termination notice.
The management agreement will be cancelled immediately, the company said yesterday.
Tags: absolute-return, asset-manager, bets, financial crisis, injunction, management agreement, mr wallace, supreme court of nsw, sydney, termination notice
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