Hedge fund liquidated.(CAYMAN ISLANDS)

0 Comments | Caribbean Update, July, 2009

Dynamic Decisions Capital Management Ltd.'s main hedge fund is being liquidated by court-appointed administrators here after investors raised questions about its bond holdings, reports Bloomberg (May 30, 2009). Hugh Dickson and Stephen Akers, partners at Grant Thornton LLP, were named the official liquidators by the Grand Court of the Cayman Islands.

"A number of allegations have been made as to the remaining asset value and the nature of the assets held, and the master fund has been unable to pay a number of large redemption requests," Grant Thornton said. The unaudited net asset value of the master fund "indicated" a value of US$550 million as of Dec. 31, the firm said.