A hedge fund is fighting in a New York court to halt an attempted liquidation in Bermuda.Fletcher International has asked the judge on whether hedge funds that incorporate abroad can use US Bankruptcy Court to stop investors when they seek liquidation in places like Bermuda or the Cayman Islands, Bloomberg News reported yesterday.Fletcher International is affiliated with Fletcher Asset Management Inc, whose principal is Alphonse “Buddy” Fletcher, once named one of the 20 wealthiest African Americans by Forbes. He gained prominence on Wall Street in 2003 when his firm reported 300 percent-a-year returns, according to the Wall Street Journal, which first reported the bankruptcy.Fletcher International describes itself as a master fund in a structure including feeder funds.Incorporated in Bermuda, Fletcher International says it’s run out of New York.“Money invested in the feeder funds in turn was invested in illiquid and complex investments made by the master fund, Fletcher International said after filing a Chapter 11 petition in Manhattan on June 29,” Bloomberg reported.“Fletcher International intends to use the New York bankruptcy to stop an attempted liquidation in Bermuda. Fletcher International explained in court filings how investors in feeder funds sought redemption of their investments and initiated liquidations in the Cayman Islands of two companies that are the indirect owners of most of Fletcher International. Fletcher International is appealing the initiation of the liquidations in the Caymans. The Cayman liquidators are now seeking the liquidation of Fletcher International in Bermuda.”After filing under Chapter 11 on June 29, Fletcher filed a lawsuit July 2 asking the judge to enjoin the Cayman liquidators from moving ahead with the attempted liquidation in Bermuda.Ernst & Young official liquidators were appointed by a Cayman judge after three Louisiana pension funds sued to get their money back.Fletcher International contends that the liquidators lack the knowledge or experience to liquidate complex investments.The judge will decide whether to stop the liquidation of Fletcher in Bermuda.Fletcher International said in a court filing that assets are $52.5 million, with liabilities totaling $23.8 million.Fletcher, a Harvard-educated former Wall Street trader, was also profiled in the book “Stock Market Wizards”. Last year he sued the co-op board at The Dakota apartment building in New York City, accusing it of racial discrimination and defamation, according to the New York Times.