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CORRECTED: Bayou Rakes In $9.5M From Payouts

Law360 (August 20, 2007, 12:00 AM EDT) -- Bayou Group LLC will collect $9.5 million in the latest round of settlements with investors who jumped ship just before the fund went under two years ago as a result of its principals' alleged fraud.

If approved by the court, the settlements, announced replete with dollar figures on Aug. 17, will resolve 17 adversary suits the hedge fund filed in efforts to sort out its finances and properly reimburse its creditors. They come, said Bayou, “as a result of vigorous, arms-length and good faith negotiations.”...
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