The Globe and Mail reports in its Tuesday edition that the receiver for failed hedge fund Traynor Ridge Capital has found only $3-million in cash as it attempts to wind down the company. The Globe's Clare O'Hara and David Milstead write that the money is only a fraction of the $94-million of assets that Traynor held in its investment funds as of Sept. 30, just before a month of frenetic trading by the fund's founder, prior to the collapse of the Toronto company. To try to recover more money, Ernst & Young LLP, which was appointed in October as the receiver for Traynor Ridge, has chosen ATB Capital Markets to value and sell the remaining assets, much of which are stocks in private companies and illiquid assets. In its first report since being appointed by the court, EY recommended giving ATB Capital the mandate to sell the remaining assets, but said the appointment still requires court approval. ATB was selected from 12 applicants because, among other things, it has significant experience as an equity trader of Canadian cannabis securities, which "comprise a substantial portion" of Traynor's investment portfolio. The Ontario Securities Commission issued a cease trade order on Traynor's registration on Oct. 30.