Bayou To Announce Second Round of Settlements

Law360, New York (August 15, 2007, 12:00 AM ET) -- Bayou Group LLP has agreed to a second round of settlements with investors that allegedly pulled their money out of the bankrupt hedge fund before it collapsed, exposing what Bayou's attorneys have termed a “fraudulent Ponzi scheme.”

The details of the settlement would likely be released later this week, according to Bayou's fiduciary officer Jeff Marwil of Winston & Strawn LLP. He declined to comment before then, but said that the money would help further litigation against investors go forward and allow the company to begin...
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