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Monday, January 25, 2016

Hearing to be held on February 1, 2016 concerning attempted involuntary bankruptcy petition brought against certain Zohar funds by Patriarch Partners XV, LLC

A hearing has been scheduled before United States Bankruptcy Judge Robert D. Drain for 10:00 am on February 1, 2016 concerning whether Patriarch Partners XV, LLC (a company that is subject to investigation by the Securities and Exchange Commission) should be allowed to bankrupt certain of the Zohar feeder funds.

The hearing is to be held in the courthouse located at 300 Quarropas Street in White Plains, New York.  For more information, see http://www.nysb.uscourts.gov/content/judge-robert-d-drain

No notice of hearing has been filed with the Bankruptcy Court by the parties before the Bankruptcy Court.  The hearing information below is from the calendar kept on the Bankruptcy Court's website, http://www.nysb.uscourts.gov/calendars/rdd.html

It is difficult to characterize the nature of the February 1, 2016 hearing beyond that it will be an evidentiary hearing.  This is because the transcript of the previous hearing in this case is not available to the public.  According to commentators, issues to be addressed at the February 1, 2016 hearing include whether the bankruptcy process is being used in good faith by Patriarch Partners XV, LLC or whether it is engaged in a delay tactic.

If you are an investor in Zohar CDO 2003-1, Limited, Zohar CDO 2003-1, Corp. or Zohar CDO 2003-1, LLC - the targets of the bankruptcy - then your rights are affected.  If you are an investor in other Zohar entities, your rights may also be affected by the hearing.

Honorable Robert D. Drain 
Monday
01/25
Tuesday
01/26
Wednesday
01/27
Thursday
01/28
Friday
01/29
Monday
02/01
Tuesday
02/02
Wednesday
02/03
Thursday
02/04
Friday
02/05
Monday, February 01, 2016

10:00 AM
15-23680-rdd   Zohar CDO 2003-1, Limited    Ch. 11
Evidentiary Hearing on Motion to Dismiss Involuntary Petition // Answer and Motion of Alleged Debtors for an Order Dismissing Involuntary Chapter 11 Petitions or, in the Alternative, Abstaining Pursuant to 11 U.S.C. 305 






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