Weiss Advisers Seek Outside Review of $30 Million Bonus Payments

Advisers tasked with shutting-down Weiss Multi-Strategy Advisers LLC want an independent review of nearly $30 million in employee bonuses that are subject to a legal dispute with the hedge fund’s primary creditor, Jefferies Financial Group.

Weiss said in a Monday court filing that an outside-review “will provide transparency and clarity” on whether the bonuses were paid to its employees in the ordinary course of its business, as the firm contends. But such an examination could also review the merits of Jefferies’ claim that the bonuses should be clawed back in bankruptcy, Weiss said.

The bonuses were paid in February, ...