Bayou Group Files "Landmark" Ch. 11 Plan

Law360, New York (June 14, 2007, 12:00 AM EDT) -- Defunct hedge fund Bayou Group LLC has filed a Chapter 11 plan and disclosure statement that offers investors who Bayou is suing for pulling their money out before it collapsed a chance to settle its claims against them.

Debtor counsel Jeffrey Schwartz said Wednesday that the settlement contemplated by the reorganization plan struck a fair balance between the rights of the estate and the rights of the investors that got out of the fund early. Schwartz also called the Chapter 11 plan a “landmark filing.”...
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