Hedge funds Perry Capital LLC and Solus Alternative Asset Management LP are fighting over whether they had a contract when they agreed to trade $195 million of claims on Bernard Madoff’s bankrupt firm, amid rising prices on the claims.
Barclays Plc has won as much as $5.5 billion from the liquidator of Lehman Brothers Holdings Inc.’s brokerage since buying the defunct investment bank’s North American business more than three years ago.
Fairfax Financial Holdings Ltd., with seven of eight hedge funds it accused of spreading false rumors out of a lawsuit, may see the $24 billion case shrink again with a judge poised to rule whether racketeering counts allowing triple damages should be tossed.
The Los Angeles Dodgers, which asked at least seven lenders for money before filing for bankruptcy today, will pay 10 percent interest on a loan from JPMorgan Chase & Co.’s Highbridge Capital Management LLC, plus fees.
Citigroup Inc. failed yesterday to win a judge’s approval to pay $75 million to settle with the U.S. Securities and Exchange Commission over claims the bank misled investors by understating subprime-related holdings.
President Barack Obama signaled readiness for a brawling election campaign by bypassing the U.S. Senate on high-profile appointments after disappointing supporters for not taking a stronger stance against Republicans.