Bankrupt hedge fund founder George Weiss sued Jefferies Financial Group Inc. to void a roughly $95.7 million debt the investment firm said he’s personally on the hook for.
Weiss’ personal guarantee of corporate debt owed by his companies to Jefferies should be nullified because it was an improper asset transfer that wasn’t made for a reasonably equivalent value in exchange, he said in a complaint filed Wednesday in the US Bankruptcy Court for the Southern District of Florida.
The guarantee Weiss made in a February 2024 forbearance agreement resulted in an “unconscionable” two-day reprieve in collection efforts for his companies, ...
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