Platinum Fund Liquidators Seek Shield From US Creditors

Law360, New York (October 19, 2016, 5:16 PM EDT) -- Liquidators for two Cayman Islands-based funds of Platinum Partners sought bankruptcy protection from U.S. creditors in New York on Tuesday, saying they recently become aware of new liabilities and need a legal shield to preserve the funds’ assets.

The filings provide a glimpse at several problems impacting businesses overseen by beleaguered New York hedge fund Platinum Partners, which had controlled the two funds until a Cayman Islands court placed them into liquidation in August. The funds’ business is now being analyzed by liquidators and separately probed...
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