With Judge On The Fence, Bear Gets 10 More Days

Law360, New York (August 27, 2007, 12:00 AM EDT) -- The judge handling the U.S. bankruptcies of two Cayman Islands-based Bear Stearns & Co. Inc. hedge funds is keeping the funds' assets out of creditors' reach for another ten days, during which he will weigh whether to grant them Chapter 15 protection.

The insolvent funds were first granted the preliminary injunction on Aug. 9 by Judge Burton Lifland of the southern New York bankruptcy court, effectively halting any pending lawsuits in the U.S. and barring new suits.

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