Reported about 1 month ago
The bankrupt Weiss Multi-Strategy Advisers LLC is in discussions with its largest creditor, Jefferies Financial Group, to settle a lawsuit related to the firm's collapse. The lawsuit claims Jefferies used litigation threats to extract $20 million from the hedge fund before its bankruptcy. Both parties are considering a settlement while Jefferies seeks to recover $30 million in bonuses paid by Weiss before the bankruptcy. The bankruptcy judge has encouraged mediation to resolve these disputes.
Source: YAHOO