Weiss Multi-Strategy Advisers should claw back about $30 million that it paid employees just before filing for bankruptcy, the hedge fund’s main creditor, Jefferies Financial Group, said in court Tuesday.
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Weiss Multi-Strategy Advisers’ Bonuses Spark Fight With JefferiesWeiss Multi-Strategy Advisers LLC paid $28 million in employee bonuses weeks before announcing it would be shutting down, sparking a legal fight with Jefferies Financial Group, which is owed tens of millions of dollars.
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Jefferies Asks Judge to Remove Managers of Weiss Multi-StrategyManagers of Weiss Multi-Strategy Advisers are trying to use the company’s bankruptcy case to enrich themselves and should be replaced by a court-approved trustee, Jefferies Financial Group said in a court filing.
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