October 06, 2014

2/13/2014 @ 12:00AM

Unwilling Lenders

If Refco’s creditors get their way, hedge fund investors will face yet another risk.

Imagine the unimaginable–Fidelity Investments goes bankrupt. Fidelity’s creditors try to get what they’re owed–from the $1.2 trillion in client assets managed by the company. Sound crazy? It is, but it’s close to what Refco’s creditors are trying to do to investors in a hedge fund that kept accounts with the failed commodities trading firm.

Starting in 2004 brokers from firms like A.G. Edwards and Merrill Lynch sold clients shares of the S&P Managed Futures Index Fund, run by a company called PlusFunds. Refco was the clearing broker. Unlike most hedge funds, this one kept its barriers low. A net worth of $45,000 and the same in annual income was enough to qualify a customer.

The fund, which tracks the S&P Managed Futures Index and is meant to provide a hedge against the stock market, managed at least $312 million from some 1,000 investors when Refco collapsed. The fund were deposited with Refco, which placed the money in offshore accounts, where they aren’t subject to limits on margin debt that apply to domestic accounts

A lawsuit filed in U.S. Bankruptcy Court in New York by Refco’s unsecured creditors contends that when the fraud that led to Refco’s bankruptcy became clear in October, PlusFunds Chairman Christopher Sugrue stormed Refco’s offices and had $312 million transferred to new accounts at Lehman Brothers.

The creditors, including Wells Fargo and Cargill, say that this money should have stayed within Refco and that Sugrue and PlusFunds should get in line. The suit implies that Sugrue, a former Refco employee, used his influence at Refco to slide in front of other creditors. Luc A. Despins, the Milbank, Tweed, Hadley & McCloy attorney who filed the suit, declined comment.

But it’s not PlusFunds’ money–the $312 million comes from the investors in the S&P Managed Futures Index Fund. The creditors’ claims on those assets have prevented investors from getting their money back.

Marc Lowlicht, a certified financial planner with Further Lane Asset Management in Manhattan, has half a dozen clients in the fund. He complains: “If I wanted them to be creditors, I would have sold them bonds.”

October 06, 2014

2/13/2014 @ 12:00AM

Unwilling Lenders

If Refco’s creditors get their way, hedge fund investors will face yet another risk.

Imagine the unimaginable–Fidelity Investments goes bankrupt. Fidelity’s creditors try to get what they’re owed–from the $1.2 trillion in client assets managed by the company. Sound crazy? It is, but it’s close to what Refco’s creditors are trying to do to investors in a hedge fund that kept accounts with the failed commodities trading firm.

Starting in 2004 brokers from firms like A.G. Edwards and Merrill Lynch sold clients shares of the S&P Managed Futures Index Fund, run by a company called PlusFunds. Refco was the clearing broker. Unlike most hedge funds, this one kept its barriers low. A net worth of $45,000 and the same in annual income was enough to qualify a customer.

The fund, which tracks the S&P Managed Futures Index and is meant to provide a hedge against the stock market, managed at least $312 million from some 1,000 investors when Refco collapsed. The fund were deposited with Refco, which placed the money in offshore accounts, where they aren’t subject to limits on margin debt that apply to domestic accounts

A lawsuit filed in U.S. Bankruptcy Court in New York by Refco’s unsecured creditors contends that when the fraud that led to Refco’s bankruptcy became clear in October, PlusFunds Chairman Christopher Sugrue stormed Refco’s offices and had $312 million transferred to new accounts at Lehman Brothers.

The creditors, including Wells Fargo and Cargill, say that this money should have stayed within Refco and that Sugrue and PlusFunds should get in line. The suit implies that Sugrue, a former Refco employee, used his influence at Refco to slide in front of other creditors. Luc A. Despins, the Milbank, Tweed, Hadley & McCloy attorney who filed the suit, declined comment.

But it’s not PlusFunds’ money–the $312 million comes from the investors in the S&P Managed Futures Index Fund. The creditors’ claims on those assets have prevented investors from getting their money back.

Marc Lowlicht, a certified financial planner with Further Lane Asset Management in Manhattan, has half a dozen clients in the fund. He complains: “If I wanted them to be creditors, I would have sold them bonds.”

September 14, 2014

What's the strongest argument against both theories of origin?
Politicians and lawyers. Who in their right mind would create (or evolve into) these species?

September 11, 2014

People Record For Christopher Sugrue Show All Details â?¼

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(516) 431-0519

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117 West
East Rockaway, NY 11518

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CS44@WEBTV.NET

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August 22, 2014

11th

Feb

2011

Christopher Sugrue And His Friends Contacted People

Posted by Admin

Chilemba Soma aged 7 boarded the plane from Huila province to Luanda. He passed Christopher Sugrue and a close friend who were on the plane. They asked about the boy as he was carrying a oxygen bottle. In Portuguese the mother explained that the bottle had been empty of oxygen for weeks but that it made Chilemba feel better to carry it with him.

The plane landed in Luanda and the mother was asked where she was taking the little boy for care. She said she was going to the local hospital. Everyone knew the local hospitals were no place for advanced medical care, so Christopher Sugrue and his friend offered to bring the boy and his mother to a private clinic for evaluation.

At the private clinic it was determined the boy had a tumor near his heart that would eventually cause death if it was not removed. Given the location of the tumor, special medical services were needed that could not be found in Angola.

Christopher Sugrue and his friends contacted people around the world looking for the right medical care.

Evetually it was determined that one of the world’s most famous pediatric heart surgeons was coming to Africa to perform free surgeries.

Christopher Sugrue and his friends organized Chilemba Soma and his mother to get a slot for the surgery out of the country.

But before they could go, they needed their first passports, visas, a hotel in which to stay, financial resources and an arabic translator to help them on their way.

All was arranged and the Chilemba and his mother left Angola for the surgery. After a month, they returned to Angola completely and permanenetly healed. The surgery was a success and Chilmba and his mother returned to their village where they continue to live until today.

Additional Resources:

Christopher Sugrue :: Listed on Firstwebhub.com

Christopher Sugrue :: Article on Newdataagency.com

Christopher Sugrue :: Information on Datanetgroup.com

Christopher Sugrue :: Article on Gatheringsource.com

August 12, 2014

Tuesday, May 10, 2011

The Adventures of Christopher Sugrue: Angola Episode 2

From CHRISTOPHER SUGRUE

Ola! I just came back from another vacation to one of the most amazing places in the planet, Angola. In the second episode of the "Christopher Sugrue in Angola" adventure, I went to both familiar and new places, visiting old friends and meeting new ones. Wherever I went though, there was always something fun and exciting to do.

The Beaches

Because I had such a good time the last time I was there, I came back to the Angolan beaches. Ilha do Cabo, Mussulo, Corimba, Santiago, and Palmeirinhas didn't change much, and it was a welcome familiarity. The Angolan sea, sand, and sunshine were as fantastic as ever.

The Town

In my last trip there, I made friends with a few locals with whom I kept in touch with. When I saw Diego again, it was like I never left town. "Christopher Sugrue, Angola misses you," he said. We met with some old friends as he introduced me to new folks. We spent the night chatting, dining, wining, and dancing to the old-meets-new ambiance of the African locale.

From CHRISTOPHER SUGRUE

The Parks

After a couple of days lounging in the familiar places, I visited the parks I wasn't able to go to the last time. Iona National Park may not have been the "animal paradise" it once was, but the marvelous rock formations there were a sight to behold. Cameia National Park led me through the labyrinth of waterfalls, rocks, different climates, and various cultures and colors that is Angola. It was a refreshing reprieve from the mundane hullaballoo of city life.

From CHRISTOPHER SUGRUE

As always, Angola will be one of my favorite spots in the world. Angola, até que nós nos encontrarmos outra vez!

Follow me on Twitter.

Wednesday, April 6, 2011

Christopher Sugrue’s Pointers on Paddling

Surfing Legend Tom Curren showcasing his buttery smooth technique, from Christopher Sugrue Photos

My name is Christopher Sugrue. As an advertising creative, I pitch the products of my mind’s musings to corporate bigwigs and serious suits for a living. On the interims between the serial episodes of brainstorming and bluffing that constitute my job description, however, I grab my wetsuit and board, fill my tank up, hit the road that leads straight to my favorite sparkling blue water, and surf.

Kate Bosworth paddles out in a scene from surfer film "Blue Crush" (2002), from Christopher Sugrue Photos

What beginner surfers need to know is that paddling makes up a huge chunk of the time one is in the water with a board. Paddling is how you propel yourself beyond the breaking waves and onto the lineup to hitch a ride on a wave.

This brings us to Christopher Sugrue’s paddling pointers:

From Christopher Sugrue Photos

On a day when the water isn’t too choppy, choose a spot where you won’t knock anyone else out.
Lay your board flat on the water. Lie on your stomach with your weight along the center of the board and your feet raised slightly off the end.
Keep your body far back enough to keep the nose of the board a few inches out of the water’s surface, but not too far back that you create too much drag.
Reach out with one arm at a time and stroke your way through the water. There’s no need to dig your arms to deep – just maintain a rhythm that pulls the board through the water.

Make sure that the nose of your board does not dip underwater at any point. To balance yourself on the board, try moving your legs slightly apart.
When paddling, maintaining good balance and proper board waxing are key to prevent from digging the nose of your board underwater or from having the board shoot up in front of you.

Find Christopher Sugrue on Facebook.

Monday, March 14, 2011

Christopher Sugrue Defines More Surf Slang

My name is Christopher Sugrue, advertising suit by day, swell rider all other times. In another blog entry I discussed some terms surfers use as everyday vernacular.

Here are a couple more terms and their definitions, from a “brah” to many others who fall victim to the befuddlement that often hounds non-surfing folk.

From CHRIS SUGRUE

Bogus – This means fake, plain wrong, or really lame.
Brodad – This refers to a surfer wannabe who overuses the terms “Bro” or “Brah.”

Burnt Reynolds – This is a term used for a surfer who is badly burnt.
Cactus Juiced – ‘To experience an injury that leaves you unable to surf.’ Example: “Did you see Christopher Sugrue break his ankle on that reef? Bro was totally Cactus Juiced.”
Cash – Describes the feeling when the flame goes out, this term is used ‘cashed,’ to mean “tired,” “relaxed,” or “done.”
Dirt Baggin’ It – This describes living conditions wherein a surfer is making do with a bare-bones existence to save every bit of dough he or she has for the next surf trip.
Drop In – This means to catch a waved that is already occupied. The second surfer takes off on the shoulder in front of someone who is both deeper in and has the right of way.

Dunzo – This means done, or finished. Example, “Max you and I are dunzo.”
Eat Foam – This describes what happens when a surfer wipes out on a huge wave and ends up swallowing some of it.

Excellent – This is 80’s surfer lingo for “cool.” Saying it in a long, drawn out manner is imperative.

Gnar – This means the same thing as ‘gnarly,’ but it sounds better.
Gnarmax – This means ‘gnarly’ to the maximum. The waves can’t get any cooler than that.

Graze – This is surfer for ‘to eat.’

Follow Chris Sugrue on Twitter and Facebook.

Tuesday, February 15, 2011

Christopher Sugrue on Cause-Related Advertising

I am Christopher Sugrue, and I am an advertising consultant. I have always been passionate about advertising – I have always known it was something I would want to do for a living. At first, the thought of any brand I handle being able to achieve top-of-mind awareness was the only thing that inspired me at work. Later on, it became this: to ensure that the campaigns I create for my clients tell a bigger, more meaningful message.

From CHRISTOPHER SUGRUE

I have always believed that advertising can be used as a means to make the public more socially aware. While branding is still a major and inevitable factor in advertising, I applaud the efforts of some companies in churning out advertising campaigns that send a socially-responsible message, while promoting their product at the same time.

From CHRISTOPHER SUGRUE

I, Christopher Sugrue, am a strong advocate of cause-related advertising. That social responsibility can work hand-in-hand with consumerism is just plain genius. Among my favorite cause-related ads include the Dove Campaign for Real Beauty, which encouraged the breaking of beauty stereotypes. It gave rise to the Dove Self-Esteem Fund, which aims to empower 5 million young women through information on positive body image, because, as the ad says, “every girl deserves to feel good about herself and see how beautiful she really is.” I also like how Lee, a traditional male brand, empowered consumers to organize workplace drives for employees to contribute $5 for the right to wear jeans on the first Friday in October, starting in 1996. The fund is being used for breast cancer research and advocacy.

To find out more about my thoughts on advertising for a cause, visit my Facebook page.

Thursday, January 13, 2011

A Beginners Guide to Surfing by Christopher Sugrue

As a longtime enthusiast of the sport, Christopher Sugrue gives a quick advice to those interested to start surfing.

From CHRISTOPHER SUGRUE

Surfing is poetry in motion, a graceful dance to the tune and tempo of the ocean. However, just like any sport, without proper knowledge and preparation, it may lead to disappointment or even injury.

There are people who think that surfing is all highlight reel moments just like how it's often seen on television or movies. This is perhaps the most common mistake committed by newbies. Yes, it would be genuinely satisfying to look cool when riding the waves. But, being safe in the water should be given the same level of priority.

From CHRISTOPHER SUGRUE

I’ve mentioned this before on my recent blogs: I, Christopher Sugrue, strongly recommends to always putting safety first. Equip yourself with essential gear before hitting the waves.

Learn to respect the ocean, the beach, and fellow surfers. The ocean is undeniably a place of pure beauty. But keep in mind that the ocean is governed by unpredictable natural forces. Accidents can be avoided by being prepared and alert.

Never litter on the beach. Everyone, including you, will enjoy surfing on clean shores. And while giving attention to your personal safety, be sure to keep fellow surfers safe, too. Avoid hitting other surfers with your surfboard by attaching a leash.

Lastly, never ever commit the mistake of being impatient. There are just days when certain factors are not on prime condition: waves are just too small to ride, your balance is terrible, etc.

In this sport, perseverance pays off—ten folds. Just keep at it. Practice, practice, practice. And sooner or later, you’ll be having your very own highlight reel moment conquering the tallest of waves.

More on Chris’ Facebook.

Friday, November 19, 2010

Breathtaking: Christopher Sugrue on Angola’s Beaches

Hello there. I’m Christopher Sugrue, an advertising consultant and adventure junkie. I’ve just finished organizing an ad campaign for this mom and pop business (anyway, that’s another story), and so I told myself, “Christopher Sugrue, Angola seems like a good place to have a much-needed vacation, why not fly there for an authentic African R and R?” And I tell you, it was probably one of the best vacations I ever had.

I mean, the beaches are just breathtaking. Angola boasts of an Atlantic Coastline stretching over 1, 650 km where the weather is warm all year round. As soon as I stepped into Angolan soil, I went straight to the world-renowned Luanda port. There I went beach-hopping in true Christopher Sugrue style. There was Ilha do Cabo, Mussulo, Corimba, Santiago, and Palmeirinhas. It was paradise. The food was just fantastic—and the people were just wonderful. Smiles wherever you go. The underwater spectacle was nothing short of amazing. Snorkeling there was a real eye opener. If only I had brought an underwater camera, you’ll see just how beautiful the marine life over there is. It was hard to leave the place but then I didn’t want to miss out on the other beaches the Southern African country has to offer.

From CHRISTOPHER SUGRUE

So, after a few days of adventure in Luanda, I spent the last half of my vacation in Benguela. There I lounged and just relaxed in the beautiful beaches of Baia Azul and Baia Farta. I spent the days just relaxing under the sun and frolicking in the clear blue water. The nights were spent in bars alive with local music and dancing, providing a dynamic and exciting highlight that fused well with the mystery of African nights.

From CHRISTOPHER SUGRUE

Indeed, my stay in Angola completely rejuvenated me and now, I’m ready to face the adventures of daily life once more.

Follow Christopher Sugrue on Twitter at twitter.com/chris_sugrue.

From CHRISTOPHER SUGRUE

August 10, 2014

Recent Editorials

A Refco Creditor Stormed Offices To Get Money Back

By JOSEPH REBELLO, Dow Jones Newswires | January 11, 2006

WASHINGTON - Two days before Refco Incorporated's unregulated brokerage business froze its customers' accounts, a client with ties to Refco's top executives stormed into the unit's New York office and hectored employees into returning $312 million, the employees say in court documents.

The client, Christopher Sugrue, is chairman of PlusFunds Group Incorporated, a fund manager that promises investment returns that track the performance of several hedge funds. His actions in the days after an accounting scandal erupted at Refco last October are now the focus of a lawsuit has rattled several hedge funds.

The lawsuit, filed by Refco's unsecured creditors in U.S. Bankruptcy Court in Manhattan, seeks the return of the $312 million to Refco Capital Markets. It asserts Mr. Sugrue's conduct was "inequitable," and that Plus-Funds gained an unfair advantage over other RCM creditors.

A spokesman for Sugrue and Plus-Funds, Ed Sweeney, declined to comment on the lawsuit. PlusFunds, which manages more than $2.5 billion in assets for hedge funds and other investors, told its clients in a letter recently that the bankruptcy court had frozen most of the assets of its Sphinx Managed Futures Fund because of the Refco creditors' lawsuit.

Refco's creditors committee, which filed the lawsuit, on Monday asked U.S. Bankruptcy Judge Robert Drain for a summary judgment in its favor. Under bankruptcy law, a judge may nullify payments made by an insolvent company in the 90 days before its bankruptcy filing, if the payment was intended to favor one creditor over others.

The creditors committee cited affidavits filed by Refco employees who described how Mr. Sugrue got them to transfer cash that PlusFunds had held in RCM. The cash was transferred on October 12, 2005, to Refco LLC, a regulated Refco unit. It was then moved to a Lehman Brothers account on the day Refco filed its Chapter 11 bankruptcy petition - October 17.

RCM's treasurer at the time, Matthew Hreben, said in an affidavit that Mr. Sugrue paid him an unannounced visit on October 11 - the day after Refco announced that the company's chief executive, Phillip Bennett, had hidden $430 million in bad debt. Mr. Sugrue had been a senior vice president at Refco from 1993 to 1998, and had maintained close business ties with Refco after leaving the company. But he wasn't known to Mr. Hreben.

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August 10, 2014

Christopher Sugrue Has Lead It To Become A Leader

April 14th, 2011 - Posted by Admin

The financial industry is ripe with corruption, bad habits, and secrecy—which has, as of late, been on display due to the recession. Bernie Madoff is an excellent example of why the financial industry in general needs more transparency, responsibility, and accountability. PlusFunds Group Inc. is one organization that is trying to improve upon the standards of transparency and independent oversight in the industry and being met with some success. It is an employee-owned and operated hedge fund sponsor.

PlusFunds Group Inc. caters to a variation of clients, including public and corporate institutions, pooled investment vehicles, and individual investors. The fixed income markets and public equity markets attract the most investment attention from PlusFunds Group Inc. Merger arbitrage, fixed income, and long or short equity are the main methods by which PlusFunds Group Inc. makes its investments. The firm focuses on distressed debt and futures.

Christopher Sugrue is the chairman of PlusFunds Group Inc., and the man who has lead it to become a leader in the industry. The company was founded in 1998 and is headquartered in the city so nice they named it twice, New York City, New York. PlusFunds Group Inc. is actually an alliance of financial firms that provides investment advice and options to clients, based upon their risk profile.

Additional Resources:

Christopher Sugrue :: Article on INC Database.com

Christopher Sugrue :: Listed on INC Listings.com

Christopher Sugrue :: Article on INC 1000.com

Christopher Sugrue :: Information on Professional Database INC.com

Christopher Sugrue :: Listed on The Corporate Database.com

August 10, 2014

Christopher Sugrue Has Lead It To Become A Leader

April 14th, 2011 - Posted by Admin

The financial industry is ripe with corruption, bad habits, and secrecy—which has, as of late, been on display due to the recession. Bernie Madoff is an excellent example of why the financial industry in general needs more transparency, responsibility, and accountability. PlusFunds Group Inc. is one organization that is trying to improve upon the standards of transparency and independent oversight in the industry and being met with some success. It is an employee-owned and operated hedge fund sponsor.

PlusFunds Group Inc. caters to a variation of clients, including public and corporate institutions, pooled investment vehicles, and individual investors. The fixed income markets and public equity markets attract the most investment attention from PlusFunds Group Inc. Merger arbitrage, fixed income, and long or short equity are the main methods by which PlusFunds Group Inc. makes its investments. The firm focuses on distressed debt and futures.

Christopher Sugrue is the chairman of PlusFunds Group Inc., and the man who has lead it to become a leader in the industry. The company was founded in 1998 and is headquartered in the city so nice they named it twice, New York City, New York. PlusFunds Group Inc. is actually an alliance of financial firms that provides investment advice and options to clients, based upon their risk profile.

Additional Resources:

Christopher Sugrue :: Article on INC Database.com

Christopher Sugrue :: Listed on INC Listings.com

Christopher Sugrue :: Article on INC 1000.com

Christopher Sugrue :: Information on Professional Database INC.com

Christopher Sugrue :: Listed on The Corporate Database.com

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2/13/2014 @ 12:00AM

Unwilling Lenders

If Refco’s creditors get their way, hedge fund investors will face yet another risk.

2/13/2014 @ 12:00AM

Unwilling Lenders

If Refco’s creditors get their way, hedge fund investors will face yet another risk.

People Record For Christopher Sugrue Show All Details â?¼

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A Refco Creditor Stormed Offices To Get Money Back

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