Amaranth denied by court
A New York judge has denied Amaranth Advisors’ request to prevent the Federal Energy Regulatory Commission (Ferc) from pursuing legal action against it while it was being sued by another federal agency.
U.S. District Judge Denny Chin in Manhattan denied the failed hedge fund’s request for a preliminary injunction on Ferc's administrative proceeding against it while the Commodities Futures Trading Commission (CFTC) pursues its own action against the fund, launched in July.
Amaranth’s former head trader, Brian Hunter, has asked the court to rule that the CFTC, and not Ferc, has the sole authority to regulate the gas futures market, where the fund's trading took place in 2006, therefore dissolving
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