Gramercy Funds Management LLC, the hedge fund that helped orchestrate Argentina’s defaulted-debt exchange in 2010, is seeking support from bondholders to help end a decade-long legal battle with the government.
Hedge-fund manager J. Kyle Bass is betting on a comeback by J.C. Penney Co., the retailer roiled by falling sales and a dispute with investor William Ackman, according to a person familiar with the matter.
Failure by Congress to act on the alternative minimum tax by year’s end will lead to “significant” delays in tax filing and a strain on taxpayers, said Steven Miller, the Internal Revenue Service’s acting commissioner.
FBI raids seeking documents from three investment firms are related to hedge fund insider trading investigations directed by the office of Manhattan U.S. Attorney Preet Bharara, according to a person familiar with the probes.
Bill Ackman resigned from J.C. Penney Co.’s board after sparring publicly with fellow directors over how to reverse the sales slump that’s dragged down the stock and left him with more than $700 million in potential losses on his stake in the department-store chain.