Martin Whitman's Third Avenue Management suing MBIA
| April 8th, 2009 | ||
| Reuters reported that Martin Whitman's Third Avenue Management is suing MBIA Inc (MBI) for recent actions that split MBIA’s businesses. In March, other hedge funds filed a suit “against MBIA, saying the business split breaches the insurer's covenant of good faith and fair dealings with its policyholders by stripping assets from the unit that provides structured finance insurance.” Third Avenue Management (TAM) is an asset management firm that was founded in 1986 by Chairman and co-portfolio manager Martin J. Whitman. Mr. Whitman c0-manages the firm's flagship Third Avenue Value Fund. | ||
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Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News
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