Torchlight investors abused process in wind-up attempt, Caymans court rules

Thu, 27 Sep 2018

By Paul McBeth Sept. 28 (BusinessDesk) - The Cayman Islands Grand Court has found investors in the Torchlight fund abused the process in trying to wind up the distressed asset vehicle linked to Pyne Gould Corp. Government agencies Accident Compensation Corp and Crown Asset Management Ltd were among petitioners seeking to have the Torchlight entity wound up after they lost faith in the Pyne Gould-owned general partner managing the fund. ACC, CAML and Aurora Funds Management reached a deal to exit the fund before the judgment was releas...

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