Chicago Tribune- A week after some investors tried forcing it into bankruptcy, Lisle-based Ritchie Capital defended management of its multi-strategy hedge fund and warned other investors that the group’s legal action could “cause further damage to the value of your investment.”
In a letter to investors on Monday, Ritchie Capital assured that its multi-strategy fund — which is the target of last week’s involuntary bankruptcy filing — “is not insolvent or at risk of insolvency, and it has met all its obligations” to investors.
Last week, in the U.S. Bankruptcy Court for the Northern District of Illinois, three investors with total claims of $46 million filed an involuntary Chapter 11 bankruptcy petition against Ritchie’s multi-strategy fund.
