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Medley Asked for More Information at Bankruptcy Hearing -- Market Talk

Dow Jones Newswires ·  Oct 5, 2021 17:11

DJ Medley Asked for More Information at Bankruptcy Hearing -- Market Talk

17:11 ET - Asset manager Medley will return to bankruptcy court tomorrow to try to get its chapter 11 plan approved, with a judge expressing concerns about how cash has been managed. "I'm concerned or I have questions that haven't been answered," Judge Karen Owens says, seeking a better explanation of the appropriateness of how funds have flowed. "Get me comfortable with what has happened." The plan is the subject of a contested confirmation hearing, with the SEC opposing it. The SEC alleges Medley management has diverted money to an entity not part of the bankruptcy. (becky.yerak@wsj.com; @beckyyerak)

(END) Dow Jones Newswires

October 05, 2021 17:11 ET (21:11 GMT)

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