Fund founder George Weiss lies bankruptcy on Jefferies debt | Company Business News

(Bloomberg) – The founder of the hedge fund, George Weiss, has filed personal bankruptcy for months after a federal judge ruled that he is liable for more than $ 100 million in debt. His eponymous firm owes Jefferies Financial Group Inc. Weiss searched Weiss in Florida on Wednesday and listed assets and liabilities from between $ 100 million to $ 500 million on a chapter 11 petition. In addition to the Jefferies debt, Weiss’s bankruptcy request also listed a $ 180 million claim from the Internal Revenue Service, which he disputed. The bankruptcy submission immediately stops collection actions that Jefferies brought against Weiss, which followed his hedge fund, Weiss Multi-Strategy Advisers, in the submission of Chapter 11. Weiss submitted bankruptcy “to manage creditors to a responsibility and address several important legal action in an orderly and reverent way. The filing “will ensure a fair and orderly solution of guilt” and Weiss work with parties to address issues “transparent and to good faith”. Jefferies is a major creditor of Weiss Multi-Strategy Advisers and claimed that Weiss and its hedge fund were owed $ 52.4 million under a strategic relationship agreement, $ 43 million to note as well as attorney fees and other costs, according to court documents. Meanwhile, weiss brought a $ 250 million defamation case against Jefferies earlier this year. He claimed that Jefferies threatened to destroy his career to force him to pay the debt of his firms has an allegation that Jefferies denied. The petition also contains a sentence that ruled that Weiss Jefferies is owed, one of his best unsecured creditors, $ 113.5 million – a debt he disputes. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP