Author Archives: the HedgeCo News Team
Samuel Israel Competent to Plead Guilty
HedgeFund.Net – Samuel Israel III, the Bayou Group founder who led the FBI on a merry chase after failing to show up to serve his prison term, has recovered sufficiently to plead guilty to escape, a federal judge said last […]
With Trial Looming, Fate of UBS Looks Grim
New York (HedgeCo.Net) – UBS may have until July 13 to “vigorously contest” the demands of the Internal Revenue Service to disclose the names associated with 52,000 offshore bank accounts, but the vice that the troubled Swiss bank is finding […]
Mrs. Madoff Has Assets “Unrelated” to Husband’s Scam
New York (HedgeCo.Net) – While authorities are trying to locate and freeze all of the assets of admitted Ponzi schemer Bernard Madoff, lawyers representing his wife, Ruth, claim that she has millions in assets, all independent of her husband’s scam. […]
Chrysler Talks Stall as Banks Balk at Trading Loans for Equity
Bloomberg – Chrysler LLC, needing lender concessions by March 31, isn’t negotiating with its banks because it can’t persuade them to discuss trading loans for uncertain equity, people familiar with the companies’ actions say. Chrysler must reduce its debt by […]
Big Falls in Hedge Fund Borrowing
Financial Times – Hedge funds cut their borrowing to almost nothing in the wake of the collapse of Lehman Brothers, according to research by the City watchdog. Data compiled by the Financial Services Authority show that leverage fell to just […]
Indevus soars on drug, hedge fund news
Boston Business Journal – Just days after winning regulatory approval for the manufacture and marketing of its cancer therapy for bladder cancer, Indevus Pharmaceuticals Inc. disclosed that a North Carolina hedge fund has acquired 8.5 percent of its common stock. […]
TPG interested in Aleris DIP financing
Reuters – U.S. private equity firm TPG has expressed interest in providing debtor-in-possession (DIP) financing for Aleris International Inc, a company it bought in 2006, a source familiar with the situation told Reuters. The private equity firm wasn’t able to […]
Major pension scheme sticks by hedge fund move
Reuters – The nation’s second-largest pension fund, the Universities Superannuation Scheme (USS), said it was sticking by a medium-term plan to double exposure to alternative assets such as hedge funds and private equity. The 23 billion pound pension scheme confirmed […]