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Cayman-Based Hedge Funds Under Investigation Seek Ch. 15

Law360 (March 2, 2018, 10:07 PM EST) -- Liquidators for a group of Cayman Islands-based hedge funds currently under investigation for defrauding investors have asked a New York bankruptcy court to grant them Chapter 15 recognition, so they can cover their bases while they pursue a wind-down in the funds’ home jurisdiction.

The funds, eight in all, had been split into three groups, each of which had different investors. All of the funds were promoted and managed by the same investment manager, Premium Point Investments LP.

The liquidators say the Cayman Islands wind-down is...
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