Appointed as Court Supervised Liquidators over the Offshore Feeder Funds in a group of funds, which was purported to be a USD1.7 billion hedge fund family based in New York. The principals were indicted by the SEC in the United States Eastern District Court of New York for overvaluation of assets, the concealment of severe cash flow problems, and the preferential payment of redemptions. Our work includes assisting the Master Fund Liquidators with their strategy to maximise recoveries through our role on the Master Fund Liquidation Committee. The portfolio assets held by the Master Fund are largely distressed and/or subject to numerous claims against them. Our role has included reviewing investment and divestment proposals put forward by the Master Fund Liquidators and their advisors and providing our commercial judgment and opinion on how those assets may be best managed and recoveries maximised for the benefit of creditors and shareholders.
Liquidation & Investigation