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Acis CLO fights back against risk retention financier
3 years ago
A 2014 US CLO which was part of the acrimonious split between asset managers Acis Capital Management and Highland Capital Management has become the centre of a dispute stemming from a risk retention financing agreement signed in 2018 -
Fund manager accused of using fake CLO to run multi-million Ponzi scheme
3 years ago
The co-founder of an investment management company who has been charged with fraud by the securities and exchange commission for setting up a multi-million dollar Ponzi scheme is alleged to have raised a CLO trust backed by fraudulent trade finance loans -
Highland directors intervene to get CLO mismanagement lawsuit dropped
4 years ago
Details have emerged about the nature of the ‘CLO mismanagement’ lawsuit filed on behalf of a charitable fund, seeded by Highland Capital Management, after it was dropped by plaintiffs -
Charitable daf "seeded by Highland" files lawsuit alleging CLO mismanagement
4 years ago
A charitable organisation has filed a lawsuit against several parties managing and monitoring a pair 2.0 CLOs in which it has exposure to the equity tranche -
Highland Capital Management LP working to remove founder Dondero
4 years ago
Highland Capital Management LP is working with the unsecured creditors committee on a new management team while the US trustee demands an independent trustee to oversee the bankruptcy -
CLO issuance faces threat amid loan definition dispute
4 years ago
The clash over Millennium Laboratories’ bankruptcy could have ramifications for the CLO market, and it all hinges on the philosophical question: what is a loan? -
Highland slams court's approval of CLO manager's restructuring plan
5 years ago
Highland Capital Management has spoken out against a US bankruptcy court’s confirmation of Acis Capital Management’s restructuring plan, saying it expects the decision to be overturned -
Debtwire: Acis CLO judge finds all three plan options unconfirmable and sides with Highland's objections
5 years ago
Acis Capital Management’s judge last week issued a ruling denying all three versions of Acis’s proposed reorganisation plan, which was highly contested by creditor Highland Capital Management and subordinated noteholder Highland CLO Funding -
Debtwire: Highland slams chapter 11 trustee over Acis CLOs as Brigade and Oaktree wait in the wings
5 years ago
Highland Capital Management is preparing for battle this month over the fate of Acis Capital Management, a CLO manager affiliate placed into bankruptcy by its former partner Josh Terry. Three options are on the table, with Oaktree, Brigade and Terry potentially taking prominent roles -
Court order forces former Sound Point CLO PM into 90-day non-compete
5 years ago
Sound Point Capital Management is locked in a dispute with its former employee Murtaza Haque who left the firm in May with a view to joining GoldenTree Asset Management -
Tilton and MBIA reach bankruptcy agreement for Zohar CLOs
5 years ago
The dispute between Lynn Tilton, the Zohar CLOs and creditors, including MBIA, came a step closer to resolution yesterday with the parties reaching an agreement over the bankruptcy of the Zohar CLOs -
Acis CLOs in play as court verdict paves the way towards bankruptcy
6 years ago
Acis Capital Management has moved closer to bankruptcy after a US court found that orders for relief are required -
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 -
Deadline passes for federal agencies to appeal risk retention ruling
6 years ago
CLOs passed another milestone on the journey away from risk retention as the SEC and Federal Reserve Board did not appeal the court decision by the 45-day deadline -
Lynn Tilton files for voluntary bankruptcy for Zohar CLOs
6 years ago
The drawn-out legal battle involving Zohar CLOs has taken a new turn, with the Zohar funds on Monday filing voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code -
Former Acis partner Josh Terry suggests the firm is bankrupt
6 years ago
The long-running legal battle between Acis Capital Management and former partner Josh Terry continues, with Terry now suggesting Acis is bankrupt and filing as a creditor with a Texas court -
Reprieved: US CLO managers are not subject to risk retention, court rules
6 years ago
The LSTA has prevailed in its lawsuit against the SEC and the Federal Reserve board, with an appeals court ruling that CLO managers are not subject to credit risk retention laws under the Dodd-Frank Act -
Former Acis partner Josh Terry accuses firm of fraudulent transfers
6 years ago
A Dallas court has once again ruled in favour of former Acis Capital Management partner Josh Terry in his long-running dispute with the asset management firm –and now, Terry has accused Acis of plotting to change managers on its CLO to avoid paying him an $8 million award -
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 -
Zohar CLO investors were not misled, SEC court rules
6 years ago
The SEC’s own administrative proceedings court yesterday threw out charges against Lynn Tilton and her firm Patriarch Partners
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