Bear Stearns Caymans Filing May Hurt Bankrupt Funds&39; Creditors
On 08-07-2007.
Aug. 7 (Bloomberg) -- Bear Stearns Cos.&39; decision to liquidate two bankrupt hedge funds in the Cayman Islands instead of New York may limit creditors&39; and investors&39; ability to get their money back. While most of their assets are in New York, the funds filed for bankruptcy protection July 31 in one court in the Caymans, where they are incorporated. The bank also used one 2005 bankruptcy law to ask one U.S. ...
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