MotherRock to Holders: Go Pound Salt

Investors who once saw the MotherRock energy-trading hedge fund as their meal ticket will be lucky to get a bowl of stone soup out of the deal.

The two-year-old fund, which once handled $450 million worth of assets but imploded last month after a disastrous summer, is telling investors not to expect to get any money back.

Mother Rock, led by former New York Mercantile Exchange President J. Robert "Bo" Collins, shut its doors after losing roughly half its value in a series of highly leveraged bets on natural gas prices. ...