Pac-Rim Investments, Ltd.

The provisional liquidators of a Cayman Islands hedge fund have abandoned their attempt to have the Cayman liquidation proceedings recognized in the United States after a U. S. Bankruptcy Judge ruled that Cayman was not the Fund's Center of Main Interests. Hugh Dickson, Stephen John Akers, and Paul Andrew Billingham, as JPLs of Basis Yield Alpha Fund (Master), filed a motion to dismiss their petition on April 3, 2008 at the U. S. Bankruptcy Court for the Southern District of New York and the petition was dismissed by the court on April 30.