HarbourVest fights back over CLO fund investment after Highland's objection
HarbourVest Partners, the key investor in risk retention vehicle Highland CLO Funding, has shot back at Highland Capital Management in court, arguing it had not insisted on changing the manager on its CLO fund from Acis to Highland, as Highland had claimed

Guernsey puts Highland wrangles out to pasture
A royal court’s dismissal of proceedings in Guernsey could spell the beginning of the end in Highland Capital Management’s legal action against former employee Josh Terry

Highland no longer defendant in Citi's Revlon loan lawsuit
Citi has dismissed its suit against Highland Capital Management as it seeks repayment on a Revlon loan, according to court filings. The lawsuit remains open against another 11 defendants

Details emerge on nature of Revlon payment 'error' and lender attitudes
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders

Citi files lawsuit against nine more lenders over 'accidental' $900 million Revlon transfer
Citi has filed a new lawsuit against nine more asset managers regarding its transfer of $900 million to Revlon lenders, which Citi says was made mistakenly. The bank is looking to claim the money back against lenders 

Highland case against ex-PM Terry dismissed for lack of jurisdiction
The island of Guernsey is famous for its high tidal range and dairy produce. But it is not the right place for Highland Capital Management to churn legal action over CLOs against former employee Joshua Terry - so says a royal court, dismissing litigation the company filed there in 2018

Acis CLO fights back against risk retention financier
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

Three managers linked to CLO businesses borrow on Paycheck Protection Programme
Three asset management companies linked with CLO businesses borrowed up to $1.7 million between them on the Paycheck Protection Programme (PPP) - the US fiscal relief package to help small businesses impacted by the coronavirus pandemic, according to data released today by the Small Business Association

Highland directors intervene to get CLO mismanagement lawsuit dropped
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
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
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

Highland Capital Management LP bankruptcy moves to hostile territory
Highland is set to return to the scene of trauma, as its restructuring moves to a Texas bankruptcy court

Highland LP’s bankruptcy could trigger power grab, as hunt for assets begins
Creditors to Highland Capital Management's limited partner subsidiary are calling for a change of management to handle the firm's emergence from bankruptcy protection

Highland files for bankruptcy
Highland Capital Management filed for Chapter 11 bankruptcy in the Bankruptcy Court in the District of Delaware (Docket No. 19-12239)

Highland co-founder Okada to leave the firm
Mark Okada, co-founder of Dallas-based Highland Capital Management, will retire at the end of the year

Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally

WhiteStar hires Highland portfolio manager to grow CLO investment business
WhiteStar Asset Management has made a big hire as it seeks to grow its CLO investment business

Highland names new co-CIO
Highland Capital Management has promoted its global equity trading head to co-CIO, as former co-CIO is named co-head of private equity 

CLO single Bs to return with higher attachments
US CLO equity investors this year seem to be focused on downside risk and this is evident in the lack of single B-rated debt in 2019 CLOs. However, there is demand emerging for a new style of single B-rated tranches that are forcing some equity investors to reconsider their stance.

Highland Crusader Fund dispute re-ignites in Delaware court
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

CLO portfolio manager Terry takes over at Acis as it emerges from bankruptcy
Josh Terry has taken control of the CLO management business used to run after Acis Capital Management announced that its reorganisation plan became effective on 15 February

Acis Capital Management's Chapter 11 restructuring plan confirmed
The United States Bankruptcy Court in Dallas today confirmed the chapter 11 restructuring plan of Acis Capital Management

Debtwire: Acis bankruptcy judge looks to mediation as litigation piles up
Acis Capital Management’s Chapter 11 trustee is developing a new plan proposal that would rectify a provision that caused a bankruptcy judge to reject an earlier plan two weeks ago

Debtwire: Acis CLO judge finds all three plan options unconfirmable and sides with Highland's objections
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

CLO Ucits funds take off despite investment limits
CLO investors are swarming over the Ucits fund market, despite the obvious regulatory headwinds and stringent liquidity requirements associated with these structures