ICP Hedge Fund Bankruptcies To Center In Cayman Islands

Law360, New York (August 09, 2013, 6:49 PM ET) -- A New York bankruptcy judge said Thursday the Cayman Islands insolvency proceedings of two hedge funds formerly managed by investment adviser Thomas Priore — who last year settled allegations that he and his firm ICP Asset Management LLP defrauded mortgage-backed securities investors — will be designated as the foreign main bankruptcy case.

U.S. Bankruptcy Judge Robert E. Gerber formally recognized the Cayman Islands liquidations proceedings for ICP Strategic Credit Income Master Fund Ltd. and ICP Strategic Credit Income Fund Ltd. as the foreign main proceedings in...
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