American University of the Caribbean of Texas) to help place AUC in their temporary Campus. Classes started again on 17 October 1989 for 3 semesters before returning to Montserrat. The Montserrat campus was rebuilt and AUC reopened it for classes in September 1990. Long thought to be dormant, the Soufrière Hills volcano on Montserrat erupted on 18 July 1995, rendering much of the island uninhabitable, including the entire city of Plymouth. Students and faculty were evacuated, and the campus was buried under volcanic ash. AUC reopened its operations in September 1995. 250 students were sent to a temporary location in Belize and 280 students were
Long-Term Capital Management of Union Bank of Switzerland resigned as a result of a $780 million loss incurred from the short put option on LTCM, which had become very significantly in the money due to its collapse. Long-Term Capital Management Long-Term Capital Management L.P. (LTCM) was a hedge fund management firm based in Greenwich, Connecticut that used absolute-return trading strategies combined with high financial leverage. The firm's master hedge fund, Long-Term Capital Portfolio L.P., collapsed in the late 1990s, leading to an agreement on September 23, 1998, among 16 financial institutions—which included Bankers Trust, Barclays, Bear Stearns, Chase Manhattan Bank, Crédit Agricole, Credit