Forex Hedge Fund Seeks Ch. 11 Amid Market ‘Deterioration’

Law360, New York (October 18, 2013, 1:44 PM EDT) -- One of the world's oldest foreign exchange hedge funds that in its heyday managed more than $14 billion in investments filed for Chapter 11 bankruptcy protection in New York federal court Thursday, citing a “deterioration” of the foreign currency market.

International Foreign Exchange Concepts Holdings Inc., which is the holding company for FX Concepts LLC, filed the voluntary petition just eight days after FX Concepts announced that it would close its investment management business following the “fatal” outflow of its final remaining client, The San Francisco...
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