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Sculptor CEO Levin refutes "personal issue" accusation by ex-chief Och
1 year ago
Sculptor Capital Management’s independent board and the company’s chief executive officer and chief investment officer Jimmy Levin have fired back at former CEO and founder Daniel Och after he cited a “personal issue” in reference to Levin’s past -
Trade finance specialist sentenced to 12 years in prison for CLO and fund fraud
1 year ago
David Hu, the former chief investment officer of International Investment Group, has been sentenced to 12 years in prison for his role in running a “Ponzi-like scheme”, which included using a CLO to create fraudulent loans. -
Highland turnaround is complete as Daugherty takes control of affiliates
2 years ago
“I feel vindicated and proud to have fought for over 10 years on behalf of investors. It was worth it,” Daugherty tells Creditflux after reaching an agreement with Highland where he will have an ownership stake in the Highland platform, among other things -
Highland files lawsuit against former founders and senior executives
2 years ago
Highland Capital Management has filed a lawsuit against several former senior-level executives at the firm, including co-founders James Dondero and Mark Okada -
Ex-CEO Dondero ordered to pay Highland for breaching restraining order
2 years ago
Highland Capital Management has won a $450,000 award against its founder James Dondero after a Dallas court overseeing Highland’s bankruptcy found that Dondero had breached a restraining order granted in December. -
Highland ends 12-year dispute with UBS over CLO-squared amid "shocking revelations"
2 years ago
A 12-year dispute over a failed CLO-squared is close to being concluded after Highland Capital Management filed a motion yesterday to approve the settlement of its dispute with UBS. But wasn't filed without more "shocking revelations" -
Fund lenders heighten scrutiny after alleged subscription credit facility fraud
2 years ago
An ongoing investigation into an alleged subscription credit facility fraud has left market participants questioning standard due diligence processes -
Golub follows Sixth Street by suing Dyal over Owl Rock merger
3 years ago
Dyal Capital’s merger with Owl Rock faces growing opposition with Golub Capital filing a lawsuit -
Highland files complaint against founder Dondero over "warning" text message allegation
3 years ago
Highland Capital Management has filed for preliminary and injunctive relief in a Texas court after becoming embroiled in a bitter row with its founder James Dondero -
Court meets Citi and defendants in middle with trial pushed to November
3 years ago
The Court overseeing the Citi Revlon wire transfer case has met Citi and the defendants in the middle, adding that “a more realistic, but still expedited, trial date should be adopted” -
Founder of west coast direct lender charged with fraud
3 years ago
Brendan Ross, founder and former chief executive officer of Direct Lending Investments, was arrested and charged with 10 counts of wire fraud yesterday, amid allegations he inflated the value and returns for a fund investment, resulting in mis-statements to investors and around $5-6million in overcharged fees -
Highland Crusader Fund dispute re-ignites in Delaware court
4 years ago
Highland Capital Management is weighing the financial impact of its ongoing litigation over crisis-era fund redemptions with the Redeemer Committee of the Highland Crusader Fund -
Medley BDC loses compliance with NYSE as two directors depart
5 years ago
The Medley marathon continues after two "independent" directors offered their resignations. The pair were named in a lawsuit last month with activist shareholders FrontFour -
Credit hedge fund to pay $10 million to settle insider trading case
5 years ago
New York-based Visium Asset Management is to pay approximately $10 million to settle a credit fund insider trading case, 8 May US regulatory filings reveal -
Zais hit with class action filing over proposed go-private deal
6 years ago
A Zais Group stockholder has filed a putative class action lawsuit against the firm, taking aim at Zais’s plans to merge with subsidiary ZGH Merger Sub and Zugel’s firm Z Acquisition – a plan that would result in the company going private -
Fund industry braces for further impact after court's DOL fiduciary rule decision
6 years ago
The US Department of Labor (DOL) had said it will not enforce its embattled ‘fiduciary rule’ following a legal ruling last week – but one regulatory lawyer says fund industry players should nevertheless brace for several impacts of that ruling -
SEC and Ameriprise settle lawsuit over high mutual fund fees
6 years ago
The regulatory lawsuit took aim at Ameriprise for allegedly making customers pay $1.78 million in unnecessary charges -
TCW hits back at sexual harassment claims involving 'terry bathrobe-wearing' MD
6 years ago
TCW has been accused of unfairly dismissing a managing director in retaliation after she reported sexual harassment – but the firm has denied the allegations, on Tuesday saying she was fired for unspecified “compliance violations” -
Embattled investment firm to shutter following tax avoidance lawsuit
6 years ago
Alternative investment firm Future Capital Partners Limited and its group are on the verge of closure, according to an investor letter seen by Creditflux -
Bill Barr steps down from Och-Ziff board as firm's new CEO is named
6 years ago
Och-Ziff has named a new chief executive officer to succeed Dan Och, with the firm announcing today that former Credit Suisse executive Robert Shafir will step into the position -
Direct lending firm and former MD square off in alleged computer hacking row
6 years ago
A co-founder of a New York direct lending hedge fund firm has accused the company of hacking into his personal computer network, according to court documents seen by Creditflux -
Goldman stymies pension funds’ fraud class action move in Abacus CDO case
6 years ago
A US Appeals Court in New York has ruled that a shareholder lawsuit accusing Goldman Sachs of fraud cannot proceed as a class action -
Former Och-Ziff executive Cohen faces criminal fraud charges
6 years ago
A former Och-Ziff Capital Management executive is facing criminal fraud charges relating to the firm’s hedge fund activities in Africa, according to an indictment that was made public last week -
Court confirms $8 million ruling in favour of former Acis partner Josh Terry
6 years ago
A Dallas court has ruled in favour of former Acis Capital Management partner Josh Terry in his long-running dispute with the asset management company, according to court documents seen by Creditflux -
Ex-Millennium credit chief to start new hedge fund following Englander dispute
6 years ago
Former Millennium Management credit chief Michael Gelband will start a long-anticipated hedge fund known as ExodusPoint Capital Management, in the next six months, according to a Bloomberg report
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