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December 26, 2007 |
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BASIS YIELD: Hearing on Summary Judgment Motion Set for Jan. 15 Representing the Joint Provisional Liquidators, Karen B. Dine, Esq., at Pillsbury Winthrop Shaw Pittman LLP, in New York, notified the U.S. Bankruptcy Court for the Southern District of New York that, as of Dec. 7, 2007, no answer, objection or other responsive pleading has been received with respect to the Foreign Representatives' request for summary judgment for recognition of Basis Yield Alpha Fund (Master)'s Chapter 15 case as a foreign main proceeding. Ms. Dine states that the JPL's counsel has reviewed the Bankruptcy Court's docket and no answer, objection or other pleading to the Motion appeared so far. Pursuant to the Motion, objections, if any, were to be filed and served no later than Dec. 6. On Nov. 29, the Bankruptcy Court signed a stipulation scheduling a hearing on the Summary Judgment Motion, to be held on Jan. 15, 2008, at 9:45 a.m. Objections to the request are due by Jan. 8. About Basis Yield Basis Yield Alpha Fund (Master) is a Cayman Islands mutual fund. It operates as a master-feeder structure that allows investors' funds to be channeled through two companies operating in a single jurisdiction to a "master" company operating in the same jurisdiction. These two feeder funds are Basis Yield Alpha Fund (US), a US feeder fund for US taxable investors, and Basis Yield Alpha Fund, a non-US feeder for all other investors. On Aug. 29, 2007, Hugh Dickson, Stephen John Akers, and Paul Andrew Billingham filed a chapter 15 petition for Basis Yield (Bankr. S.D.N.Y. Case No. 07-12762). Karen Dine, Esq. at Pillsbury Winthrop Shaw Pittman LLP represents the petitioners. (Basis Yield Bankruptcy News, Issue No. 9; Bankruptcy Creditors' Service Inc. http://bankrupt.com/newsstand/ or 215/945-7000). |
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