The Hedge Funds Weblog
Disclosure Ruling Has Hedge Funds Retreating
In a story a couple days ago, hedge fund shareholders led by Owl Creek withdrew their motion to have a say in the payment deals after the Northwest Airline Corp reorganization.
The surprising move turns out not to be so surprising after all. Bankruptcy Judge Allan Gropper ordered the hedge fund committee to disclose all of their holdings in the airline, when they were purchased and for how much, in order to continue with the motion.
Soon after the disclosure ruling the hedge fund shareholders withdrew their motion.
So it was a decision based on the disclosure requirements that had them backing off, as I'm sure you've heard, hedge funds are known for their fiercely guarded trading secrets and so far have succeeded in resisting regulation.
Rest of the story on HedgeCo.com.
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