Fletcher Fund Creditors Include Well-Known Law Firms

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Written By admin at Friday, July 6th, 2012

By Steve Eder and David Benoit

A hedge fund that filed for bankruptcy protection last week and that is run by the investment firm of Alphonse “Buddy” Fletcher Jr. has a list of creditors that includes at least ten law firms and some financial-services firms.

Among the law firms are well-known international firms and one firm in the Cayman Islands, where a judge recently ruled another fund run by Fletcher Asset Management be wound up – a decision the Fletcher firm is appealing. All claims in the bankruptcy matter are listed as disputed.

The top unsecured creditor in the bankruptcy is corporate law firm Proskauer Rose LLP, which has a claim of $ 1.07 million, according to a court document. A representative for Proskauer didn’t comment. The Proskauer listing mentions partner Alicia Batts, who is an antitrust and corporate defense lawyer in the Washington D.C. office, according to the firm’s website. She didn’t return a call for comment.

The next two biggest creditors are Kirkland & Ellis LLP, with a claim $ 440,176, and Skadden, Arps, Slate, Meagher & From LLP, with a claim of $ 383,882, according to the bankruptcy court documents. A Kirkland lawyer listed on the court document, Jay Lefkowitz, declined to comment.

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