Falcone Redeems $113M HF Loan

Philip Falcone has paid the balance of a $113 million loan taken from his hedge fund, Harbinger Capital Partners, Reuters reports. Harbinger’s lawyers had filed a termination notice for the loan with the New York State Department of Corporations on March 11, 2011.

The notice eliminates a lien that the hedge fund had placed on some of Falcone’s assets. Falcone had borrowed from Harbinger’s Special Situations Fund to pay federal and state tax and had until October 2014 to repay the fund.

Click here for the story from Reuters.