SageCrest Unit Seeks Bankruptcy Protection

Law360, New York (October 21, 2010, 1:45 PM EDT) -- Antietam Funding LLC, which holds life insurance assets and is a unit of bankrupt hedge fund SageCrest II LLC, has filed for Chapter 11 and indicated it has up to $500 million in liabilities.

The Greenwich, Conn.-based company lodged its voluntary petition for reorganization in the U.S. Bankruptcy Court for the District of Connecticut on Tuesday and asked for its case to be jointly administered with SageCrest’s proceedings.

Listing assets of up to $100 million, Antietam noted in its filing that its primary assets are made...
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