Hedge Funds

Court blocks merger


A ruling by the New York State Supreme Court to block the merger between $300 million Gotham Partners Management and First Union Real Estate Mortgage Investments could force Gotham to file for bankruptcy.

The group is currently in the process of shutting down two of its principal investment funds in a bid to raise assets. The decision to sell off the funds, which primarily invest in non-publicly traded companies and real estate, was made after the New York State Supreme Court blocked the group's planned merger with First Union at the end of June. First Union will now