Boaz Weinstein: You Won’t Get Off That Easily, Canada

The hedge fund manager is prepared to fight Canada to the death.
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This would be a good start, PSP.

Court-ordered mediation of the Canadian Public Sector Pension Investment Board’s nonsense accusation that Saba Capital screwed it out of $12 million? Like hell. Boaz Weinstein won’t give these Canucks the satisfaction. No, only the pension’s total humiliation in front a federal judge in open court, or its prostrate submission and apology for this reckless and malicious attack, will do.

The two sides were ordered to have a third party mediate the dispute earlier this month under a New York state court pilot program. On Wednesday, the parties agreed to opt out of mediation, saying it would be “ineffective at this stage of the proceedings.” Weinstein has vowed to fight the suit and asked a judge to dismiss the case the day after mediation was ordered, saying the pension fund “recklessly and maliciously attacked” his firm, which did “absolutely nothing wrong” and won’t settle the case for a penny.

Boaz Weinstein Presses for Trial in Fight With Canada Fund [Bloomberg]

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Boaz Weinstein Kills it in May . . .

May was the worst month for hedge funds since October 2008. The HFRX Global Hedge Fund Index lost 2.6 percent. Don’t tell that to Boaz Weinstein. Yeah, he might have lost $1 billion at Deutsche Bank, but that’s old news. Boaz’s Saba Capital (Hebrew for grandfather) bucked the trend in May, up 1.6 percent for the month and 5.8 percent for the year.