The final chapter in the Heartland Funds’ valuation case may be coming to a close. A receiver appointed by the U.S. District Court in Chicago is proposing that the firm’s three high yield bond funds at the center of the debacle sell their high quality bonds and distribute the proceeds to shareholders, according to a report appearing on the Milwaukee Journal Sentinel’s Web site.

"This is a means to get some cash out to investors," Phillip Stern, the receiver in charge of the funds, told the Journal Sentinel.

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