Premier Hedge, Inc.

One Cayman Islands-domiciled hedge fund is suing another, as well as the Cayman and Bermuda operations of the Bank of Bermuda, claiming it was short-changed by more than $400,000 when it redeemed its shares. Premier Hedge Inc., which is managed by Asset Alliance Advisors Inc. in New York, NY, is seeking actual damages of $407,845, plus interest, and punitive damages in a complaint that was filed at the Supreme Court of the State of New York, New York County on April 9, 2008.