KMPG, the receiver for Portus Capital, notified the Canadian court that it would consider sending a legal team to question Manor in Israel.
Boaz Manor, co-founder of Canadian hedge fund Portus Alternative Asset Management, fled to Israel a few days before his questioning on the fund’s collapse was due to begin. Manor, who made the fund one of Canada’s most successful hedge funds, with 26,000 investors and total investment of $750 million, is suspected of causing the fund’s collapse.
Questioning of Portus co-founder Michael Mendelson has already begun, and questioning of former Portus VP Ali Hamid is scheduled to begin tomorrow.
KMPG, which was appointed receiver for Portus, notified the court in Canada, that if Manor did not return to Canada within one week, it would consider sending a legal team to question him in Israel.
KMPG discovered only last Thursday that Manor had fled from Canada, after learning that he was no longer a client of the law firm that had represented him.
Published by Globes [online] - www.globes.co.il - on April 10, 2005