A judge in the Cayman Islands ordered the liquidation of a hedge fund run by Fletcher Asset Management after three Louisiana public pension funds told the court they weren’t able to withdraw their money from the fund.

The judge on Wednesday said the hedge fund was insolvent on a cash-flow basis and should be wound up, according to people familiar with the proceedings. The judge approved a request by the pension funds to appoint two people from Ernst & Young as official liquidators, according to Robin Lee McMahon, one of the two people.

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In another case The US District Court dismissed the complaint, sua sponte, from nine Cayman Islands hedge funds in the case WDNY Domestic Transactions Subject Matter Jurisdiction Absolute Activist v. Ficeto. The court said their complaint for appealing the dismissal of their complaint with prejudice lacked subject matter jurisdiction as the complaint did not allege domestic transactions.