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Hedge fund-collapse claims against Perots dismissed


Date: Friday, August 13, 2010
Author: Chad Eric Watt, Dallas Business Journal

A Dallas federal judge has dismissed claims filed against entities affiliated with H. Ross Perot, after the collapse of a Perot family hedge fund.

The Parkcentral Global Hub hedge fund had a value of $2.5 billion in early 2008. In Nov. 2008, the family of H. Ross Perot shut down the fund and allowed Bermudan regulators to liquidate it.

Three plaintiffs claimed they had lost millions investing in the Perot fund, and sought damages from a number of Perot family entities and two managers of the fund.

Claims were also dismissed against Steven L. Blasnik, former president of Parkcentral Capital GP, the fund's general partner, and Peter M. Karmin, identified in lawsuits as the head of trading for the hedge fund.

“The judge has dismissed all of the claims against all of the defendants,” said Dan Gold, an attorney representing the Perot Family Trust and a number of other Perot-related entities.

The order, signed Aug. 5 by federal Judge Barbara Lynn, allows the plaintiffs, Southern Avenue Partners LP, Levine Capital Ltd. and Deborah Bash Mullen, a chance to refile their complaints.

The plaintiffs' attorneys were not immediately available for comment.