Tuesday, May 30, 2006

Collapsed Hedge Fund Bayou Wants Its Money Back

There may be a rude surprise in store for investors who think they escaped getting burned by last year’s scandal at hedge fund Bayou Group.
The fund, which raised more than $450 million before it abruptly imploded in August with most of that money missing, filed for Chapter 11 protection on Tuesday in New York. As part of the bankruptcy, Bayou’s court-appointed overseer hopes to claw back funds that were paid out to previous Bayou investors over the past two years.

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