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Article: Sentinel clients say firm has frozen assets.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- August 16, 2007
CopyrightCOPYRIGHT 2007 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Robert Manor and Becky Yerak
Aug. 16--Sentinel Management Group hopes to wait out its crisis, a lawyer for companies that use the cash management firm said Wednesday, but for now has frozen the assets of its clients.
"If you attempt to withdraw money from Sentinel, they will tell you they will not honor that request," said lawyer Jeffrey Barclay, who represents some of the futures brokers and investment pools whose money is frozen at Sentinel.
Northbrook-based Sentinel rocked the stock market earlier this week after telling clients it had asked regulators for permission to cease redemptions because they would cause investment losses.
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