How can you file audited results when Bass scares off all the auditors? part of the problem is that Nexpoint has been one of Bass's partners in crime and was now trying to take over the lawsuit by taking over the management of UDF IV management. There are plenty of problems with UDF's handling of the situation, but this was an attempted clean up by a Bass ally.
Probably more like generating additional discovery for their buddy Kyle Bass (via Jim Dondero). If Nexpoint were never short UDFI they could have answered that question easily and publicly? Fact is they did not. So reasonably they could have been "in" on the "destroy UDFI and buy it back cheap" play.
Or creating a "white knight" image so that people would be pursued to sell in the tender offer at a silly price.
Not saying that UDF are angels. Probably just run-off the mill holdco monks; no alpha.
However, in the latest discovery we ironically see Kyle Bass talking Jim out of the investment. Scrambling in all directions to throw mud at it. Typical sign of a guy that is being boxed in. What happened to "ponzi-like" - no good anymore?
News 
Market Data 
Discover 
AI
