On March 16, 2006, International Management Associates, LLC (“IMA”) and nine related entities filed Chapter 11 petitions in the Northern District of Georgia (06- 62966-PWB, et al.). IMA, and related debtor International Management Associates Advisory Group, LLC, reportedly had approximately $166 million in funds under management in hedge funds. Seven related entities are the funds. Filings indicate that the petitions were filed after both the Superior Court of Fulton County and the US District Court entered a TRO’s and appointed a Receiver for some or all of the related entities. Debtors have filed a Motion to jointly administed the cases under the IMA case number.
Update – The March 21, 2006 Atlanta Constitution has an article about the Debtor entities and their missing principal. The article may be viewed by clicking here.