Jefferies Loses Fight Over George Weiss’ $20 Million NYC Co-Op

Hedge fund manager George Allen Weiss prevailed in his bid to exclude his interest in a $20 million New York City co-operative apartment from his bankruptcy estate, marking a loss for his largest creditor, Jefferies Financial Group Inc.

Judge Robert A. Mark of the US Bankruptcy Court for the Southern District of Florida overruled Jeffries’ objection and allowed the exemption during a Tuesday hearing.

The judge held that the asset was intangible personal property, and because the debtor and his spouse are domiciled in Florida, Florida law governs the exemption question. Under the state law, a tenancy‑by‑the‑entirety interest, which is ...