Funds Appeal Forced Disclosure In Northwest Case

Law360, New York (March 15, 2007, 12:00 AM EDT) -- A group of hedge funds ordered by a bankruptcy court to disclose information about trades they made relating to Northwest Airlines Corp. has appealed the ruling, arguing that the disclosure would violate certain laws.

Earlier this month, Judge Alan Gropper ruled that a group of 13 institutional investors, mostly hedge funds, that hold 30% of Northwest’s shares must reveal data about the Northwest stock they bought and the prices they paid.

The funds, including Owl Creek Asset Management and Seneca Capital, have argued that forcing the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.