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Sonnenschein Slams Bayou's Litigation Strategy

Law360 (October 10, 2007, 12:00 AM EDT) -- A law firm representing investors embroiled in action over the collapse of Bayou Group LLC has criticized a proposed order that would authorize the hedge fund's unsecured creditors to sue third parties on behalf of the debtors.

In its limited objection, filed in the U.S. Bankruptcy Court for the Southern District of New York on Tuesday, Sonnenschein Nath & Rosenthal LLP argued that the creditors committee was targeting redeeming investors – those who pulled their money out of the fund before its collapse — to maximize...
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