Bayou Settles With Investor Over False Profits

Law360, New York (November 10, 2006, 12:00 AM EST) -- Bayou Management LLC said Friday it has reached its first settlement with UT Medical Group Basic Pension Plan, one of a slew of investors the bankrupt hedge fund has sued in an effort to recoup investments made and profits earned before the now-defunct fund collapsed.

Jeff Marwil, the U.S. Trustee representing Bayou in its Chapter 11 case, said in a statement he had filed the proposed settlement in court documents on Friday, noting that the deal resolves the lawsuit between Bayou and UTMG in “a fair...
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