Guess we will soon see if moving assets offshore will help them....and if the courts will help them in the end....
Bear Stearns Judge Delays Ruling Banning U.S. Suits (Update3)
By Tiffany Kary
Aug. 27 (Bloomberg) -- A federal judge refused to grant permanent protection from U.S. lawsuits for Bear Stearns Cos.' two bankrupt hedge funds, questioning whether the Cayman Islands should be the principal site of their liquidation.
U.S. Bankruptcy Judge Burton Lifland in New York today said he ``will issue a decision in the next week to 10 days'' on whether Bear Stearns picked the proper jurisdiction for the funds, whose assets are mostly located in New York. He banned any suits against the funds while he deliberates. http://www.bloomberg.com/apps/news?pid=20601087&sid=aNeo.o6TEuzo&refer=home