Bayou Reaches Settlements In 32 Adversary Cases

Law360, New York (September 17, 2008, 12:00 AM EDT) -- Bayou Group LLC on Friday asked for approval of settlements totaling nearly $2.5 million in 32 adversary proceedings against Bayou Hedge Fund investors who cashed out prior to the fund's spectacular collapse.

the 32 investors all pulled out of the fund in 2003 and 2004, more than two years prior to the firm's Chapter 11 filing in May 2006, according to a motion asking for approval of the settlement agreement filed in the U.S. Bankruptcy Court for the Southern District of New York. Bayou Group filed...
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