Fund Founder George Weiss Files Bankruptcy Over Jefferies Debt

Hedge fund founder George Weiss has filed personal bankruptcy months after a federal judge ruled he’s liable for more than $100 million in debt his eponymous firm owes Jefferies Financial Group Inc.

Weiss sought court protection Wednesday in Florida, listing assets and liabilities each of between $100 million to $500 million on a Chapter 11 petition. Besides the Jefferies debt, Weiss’ bankruptcy petition also listed a $180 million claim from the Internal Revenue Service, which he disputes.

The bankruptcy filing immediately halts collection actions Jefferies has brought against Weiss, who follows his hedge fund, Weiss Multi-Strategy Advisers, in ...