(Bloomberg) -- Bear Stearns Cos. told investors in
one of its hedge funds that they won't get any money back after
creditors forced it to sell assets at depressed prices to repay
loans, according a letter sent by the firm.
While there's ``very little value for the investors'' in the
second fund, Bear Stearns said in the letter it doesn't expect to
sustain losses on the $1.6 billion in emergency funding it
provided last month. That fund contains ``sufficient assets'' to
cover the $1.4 billion it still owes the New York-based firm,
according to the letter.
Read more at Bloomberg Bonds News
one of its hedge funds that they won't get any money back after
creditors forced it to sell assets at depressed prices to repay
loans, according a letter sent by the firm.
While there's ``very little value for the investors'' in the
second fund, Bear Stearns said in the letter it doesn't expect to
sustain losses on the $1.6 billion in emergency funding it
provided last month. That fund contains ``sufficient assets'' to
cover the $1.4 billion it still owes the New York-based firm,
according to the letter.
Read more at Bloomberg Bonds News
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