Anchorage Funds Seek To Push Zais Debt Into Ch. 11

Law360, New York (April 4, 2011, 5:51 PM EDT) -- Three funds run by Anchorage Capital Group LLC filed a petition Friday in New Jersey court seeking to push Zais Investment Grade Limited VII, a Cayman Islands-based debt issuer, into involuntary Chapter 11, claiming they're owed more than $133 million.

The petition, in the U.S. Bankruptcy Court for the District of New Jersey, says the claims are based upon principal only and don't include interest and other costs.

The filing says Anchorage Capital Master Offshore Ltd. is owed more than $82 million, GRF Master Fund LP...
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