FEBRUARY 20, 2019
Acis Capital Management, L.P. and Acis Capital Management GP, LLC (collectively Acis) announced that their Plan of Reorganization (Plan) became effective Feb. 15, 2019, and that they have emerged from Chapter 11 as a privately held company owned and operated by former partner, Joshua N. Terry. The United States Bankruptcy Court in Dallas, TX, confirmed Acis’ Plan on Jan. 31, 2019.
FEBRUARY 4, 2019
Acis Capital Management, L.P. and Acis Capital Management GP, LLC (collectively Acis), a Securities and Exchange Commission (SEC)-registered investment adviser and collateralized loan obligation (CLO) manager with approximately $2 billion in assets under management, announced today that the United States Bankruptcy Court in Dallas has confirmed Acis’ Chapter 11 restructuring plan. Prior to bankruptcy, Acis was owned and controlled by Highland Capital Management, L.P. and its affiliates (collectively, Highland).
Joshua N. Terry, former head of Highland’s structured products team and founder/former partner in Acis, and the holder of an $8 million judgment, successfully initiated and prosecuted an involuntary bankruptcy against Acis. The case was subsequently converted to Chapter 11.
Upon emergence from bankruptcy, Acis will be owned and operated by Mr. Terry. Acis’ plan of reorganization proposes to pay creditors in full. Brigade Capital Management, LP, a global investment management firm with over $20 billion in assets under management, is currently acting as sub-adviser for the Acis CLOs.