I think Everest (the manager) indicated that they would stay on and wind up even if Laxey & Permanent were not appointed, but will have to have another look at the fine print. Also, redemptions of US$400m have been requested from underlying funds to pay off debt, but company could not indicate how long that would take. BTW, don't see it ending up as a cash box, hedge funds globally are suffering redemptions and also deleveraging, thus expect they need the cash like everyone else.
However, I totally understand your sentiment.
EBI
everest babcock & brown alternative inv trust
