Sphinx Group Makes Bid For Chapter 15 Shelter

Law360 (August 1, 2006, 12:00 AM EDT) -- Less than two months after a federal judge signed off on a $263 million settlement award for one of the offshore hedge funds shuttered by the collapse of Refco Inc., Sphinx Ltd. and 21 other Sphinx-affiliated funds are seeking U.S. bankruptcy protection as a result of an investigation into that settlement.

Kenneth Krys and Christopher Stride, the Cayman Islands-based liquidators of the offshore funds, filed the Chapter 15 petition Monday in the U.S. Bankruptcy Court for the Southern District of New York.

The liquidators are responsible...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.