Singer’s Elliott Wins Ruling Forcing PE Firm to Wind Down Fund

Paul Singer’s Elliott Investment Management Inc. convinced a judge to grant its request to liquidate an oil and gas fund as part of a legal fight with a Texas private equity firm managing the assets.

Delaware Chancery Court Judge Bonnie David ruled Friday that Stronghold Investment Management breached an earlier settlement agreement struck with Elliott by failing to sell all assets by certain deadlines. The judge asked the parties to come up with a proposal for winding down the two partnerships that manage Elliott’s investment.