"On Monday, one of Sigma's lenders, J.P. Morgan Chase & Co., terminated its repo agreements, followed by HSBC Holdings PLC and Royal Bank of Scotland Group PLC, people familiar with the matter say. On Tuesday, at least one lender issued a notice of default, according to Moody's. As a result, all of Sigma's lenders are expected to move to seize Sigma's assets if they haven't already, essentially paralyzing the fund."

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