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Bear Stearns Fund Seeks to Dissolve

A Bear Stearns investment fund, significantly impacted by the decline in the subprime mortgage market and facing creditors’ complaints regarding its management, has requested permission from a Delaware judge to dissolve and liquidate its assets. Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Fund LP, linked to a Cayman Islands-based fund, is seeking to shut down […]

Bear Stearns hedge fund losses lead to arbitration claims

Arbitration claims were filed this week with Financial Industry Regulatory Authority (FINRA). The Bear Stearns hedge fund at issue in the FINRA claims is the Bear Stearns High Grade Structured Credit Strategies Enhanced Leverage (Overseas) Fund. Three weeks ago, Massachusetts Secretary of State William Galvin charged Bear Stearns with improper trading in the failed hedge […]

Federal Prosecutors Launch Probe of Bear Stearns Funds

Federal prosecutors have launched a criminal investigation into two Bear Stearns Cos. mortgage-related hedge funds that collapsed during the summer, according to people familiar with the matter. The U.S. attorney in Brooklyn has made a request to Bear Stearns for information related to the hedge funds, whose failure cost investors $1.6 billion, said these people. […]

FINRA Board Approves Rule to Limit Motions to Dismiss in Arbitrations

The Financial Industry Regulatory Authority (FINRA) announced today that its Board of Governors approved rule amendments designed to limit significantly the number of dispositive motions – more commonly known as motions to dismiss — filed in its arbitration forum and to impose strict sanctions against parties who engage in abusive motions practices. “In many instances […]

Morgan Keegan still can’t price bonds, delays filing

Three fixed-income funds offered by Morgan Keegan & Co., whose assets have been difficult to price because of the subprime mortgage crisis, still cannot file annual reports, a spokeswoman said on Monday. Morgan Keegan, a unit of Regions Financial Corp., said on Aug. 30 it was seeking a 15-day extension to file the annual reports […]