Ritchie Multi-Strategy hearing on dismissal of Chapter 11 case continued to April 11

By Jennifer Lanning Drey

Portland, Ore., April 4 - The hearing on Ritchie Multi-Strategy Global LLC's motion to dismiss the involuntary Chapter 11 case filed against the fund by some of its investors was continued to April 11, according to a Friday filing with the U.S. Bankruptcy Court for the Northern District of Illinois.

As previously reported, the involuntary Chapter 11 case was filed on Dec. 26 by investors Benchmark Plus Partners, LLC, Benchmark Plus Institutional Partners, LLC and Sterling Low Volatility Fund QP.

The investors also filed a Feb. 5 objection to Ritchie's motion to dismiss the case, saying that the request is based on the fund's claim that the investors are not creditors, an allegation the petitioners called "demonstrably false."

A source familiar with the matter said the case was taken under advisement following a March 12 hearing; however, a ruling has not yet been made.

Ritchie Multi-Strategy is a Lisle, Ill.-based hedge fund. Its Chapter 11 case number is 07-24236.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.