citadel suspend redemption

[mind]

http://www.bloomberg.com/apps/news?pid=20601087&sid=afKCOsImdwgU&refer=home

i did it after 1998: trying to get money out of a hedge
fund. if the fund does not want to, you have nothing
you can do. at least cayman authorities let them get
away with everything.

many hedge fund investors will face the fact that the
loss in trading was just the beginning of a story.

 

[shadowtrader]

I'm sure its legal as delineated in the small print, but it doesn't seem right. How long can they typically freeze redemptions?

Perhaps Madoff should have frozen redemptions indefinitely.

 

[nazzdack]

Quote from mind

...........if the fund does not want to, you have nothing
you can do............

Not exactly. You could come to Chicago and hunt down Griffin at his home or office and demand your money to his face. :eek:

 

[nitro]

Citadel CDS are trading at 75% implied default. I hear Griffin is floating the company his own money until they can get back on their feet.

Hope they make it.