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The perils of forcing a sale of illiquid assets

A lawsuit against Saba Capital's Boaz Weinstein shows how a liquidity panic can possibly lead to a financial crisis

Mr Weinstein rejects the suggestion that Saba "shopped for lowball bids" for two bonds in its portfolio.

New York

BOAZ Weinstein, the hedge fund manager famous for betting against the JPMorgan Chase trader known as the "London Whale", is being accused of his own accounting chicanery.

In a case that could have chilling lessons for investors in certain kinds of illiquid assets, Mr