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Argyle Funds & Ardent Harmony Fund go into liquidation, $89m at risk

A Cayman fund group set up by Barbados-based Canadian attorney Jeffrey Lipton has collapsed, putting US$89m of investors' funds at risk. Argyle Funds SPC, ARC (Euro) Fund, ARC (USD) Fund, and Ardent Harmony Fund went into liquidation apparently due to problems with loans of approximately $40m to NY-based factoring firm RMP Capital Corp.