A New York State Supreme Court judge on Friday extended an order she put forth on October 6 preventing redemptions from Reserve Management Co.
's $3.5 billion International Liquidity Fund
For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline.
Fund shareholders Caxton International Ltd.
and Caxton Equity Growth
slapped a suit against the Reserve on October 6 (see The MFWire,
October 15, 2008). They asked the court on Friday to greenlight the appointment of a receiver to assist with the distribution.
New York State Supreme Court Justice Barbara Kapnick
extended her October 6 order and adjourned the case until October 31 unless the parties come to an agreement before that time.
Stay ahead of the news ... Sign up for our email alerts now