Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Reserve Will Have a Supervisor as it Pays its Legal Bills Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 6, 2009

Reserve Will Have a Supervisor as it Pays its Legal Bills

by: Armie Margaret Lee

A supervisor will be appointed to look at how Reserve Management Co. pays legal and other expenses, The Wall Street Journal's Diya Gullapalli reports in Tuesday's Fund Track column. A U.S. District Court judge issued the ruling Monday requiring that a special master be tapped to prevent "improper expenditure of assets."

For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline.

The Reserve is a battling a slew of suits after its Primary Fund broke the buck in September.

In December, Reserve said it would use investor money to help defend itself in the suits. A unit of Ameriprise Financial then filed a preliminary injunction to prevent the firm from temporarily making those payments. The court order issued Monday denied the injunction but required the appointment of an overseer. The two parties can name their pick for the job by next week, according to the report. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use