Fletcher Fixed Income Alpha Fund Ltd.

Decision Granting Plaintiffs' Motion for Summary Judgment Against Alphonse 'Buddy' Fletcher, Jr. in Corinne Ball, as Plan Administrator of Soundview Elite Ltd., Soundview Premium, Ltd., Soundview Star Ltd., Elite Designated, Premium Designated and Star Designated v. Alphonse 'Buddy' Fletcher, Jr., filed at the U. S. District Court for the Southern District of New York.

The liquidators of the Fletcher International Group in Bermuda and the Cayman Islands are suing the 79-year-old mother of U.S.-based suspected fraudster Buddy Fletcher in an attempt to recover over $700,000 they claim he fraudulently transferred to her.

Complaint in Massachusetts Bay Transportation Authority Retirement Fund, FIA Leveraged Fund Ltd., Fletcher Income Arbitrage Fund Ltd., and Fletcher International Ltd. v. Citco Fund Services (Cayman Islands) Ltd., Citco Fund Services (Suisse) SA, Citco Group Ltd., Citco Trading, Inc., Citco Global Custody (NA) NV, Citco Bank Corporation NV, SFT Bank NV, and Ermanno Unternaehrer at New York Supreme Court.

A bankruptcy judge in New York has extended an injunction preventing Cayman feeder funds from pursuing a petition to wind up Fletcher International in Bermuda. Judge Robert E. Gerber stated that he wanted to give the hedge fund "a reasonable time" to attempt to re-organize, while acknowledging it might be beyond saving.

New York, rather than Bermuda, is a more convenient jurisdiction to liquidate Bermuda-domiciled master hedge fund Fletcher International, Ltd. - but only if its "pre-petition operating team" is removed. That is the stance of the offshore liquidators of one of three Cayman Islands-domiciled feeder funds that are involved in litigation with the Fletcher Fund Group in Cayman, Bermuda and New York.

Objection by offshore liquidators to the employment of Young Conaway Stargatt & Taylor, LLP as bankruptcy counsel to Bermuda-domiciled Fletcher International, Ltd. at the U. S. Bankruptcy Court for the Southern District of New York.

Bermuda hedge fund Fletcher International, Ltd. today obtained an order in New York that temporarily prevents it from being wound-up in its home jurisdiction - a ruling that will likely lead to a jurisdictional battle between investors and management in courts in Bermuda, the Cayman Islands and the USA as they battle for control of a group that claims to manage $550 m.

Winding Up Order In the Matter of Fletcher Income Arbitrage Fund Ltd. at the Grand Court of the Cayman Islands.

Declaration of Floyd Saunders in support of a Chapter 11 Voluntary Petition filed by Bermuda-domiciled Fletcher International, Ltd. at the U. S. Bankruptcy Court for the Southern District of New York.

A hedge fund group operated by New York-based Fletcher Asset Management that claims to manage $550 million in Bermuda, Bahamas, Cayman Islands and Delaware has been accused of impeding an investigation into its affairs by offshore liquidators, who have also raised concerns about allegedly related entities in the British Virgin Islands and the Channel Islands.

Winding Up Petition in FIA Leveraged Fund v. Fletcher Income Arbitrage Fund Ltd. at the Grand Court of the Cayman Islands.