Fletcher Gets TRO Against Liquidator To Keep Assets Intact

Law360, New York (July 6, 2012, 2:51 PM EDT) -- A New York bankruptcy judge on Thursday granted Fletcher International Ltd., which filed for Chapter 11 protection June 29, a temporary restraining order barring Cayman Islands court-appointed liquidators from taking action against the hedge fund and dismantling its assets, for now.

U.S. Bankruptcy Judge Robert E. Gerber granted Fletcher's motion for a temporary restraining order and preliminary injunctive relief confirming the applicability of the automatic bankruptcy stay to the proceedings, giving the debtor more time to make its case that only the New York Chapter 11...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.