Sentinel files for Chapter 11 bankruptcy

UPDATE: Hedge Fund Crash has obtained a list of Sentinel Management’s largest creditors

  Late Friday one might say the inevitable happened; cash management firm Sentinel Management Group, profiled earlier this week, filed for Chapter 11 bankruptcy protection with the Northern District of Illinois bankruptcy court.  According to Reuters, the bankruptcy filing said Sentinel’s estimated assets and liabilities both exceeded $100 million but Sentinel Management Group declined to be more specific.  The firm estimated that it had at least 200 outstanding creditors.

In the filing the Sentinel Management’s board is quoted as saying:

"the best interests of the corporation, its creditors and other interested parties that a voluntary petition be filed … in an effort to restructure the indebtedness of the corporation,"

Source

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