Ogier on Madoff Case
22 Sep, 2011
Ogier BVI Associate, Claire Goldstein, has written an EXCLUSIVE article for Lawyer Monthly regarding the recent Bernard Madoff ‘feeder fund’ case.
On 16 September 2011 judgment was handed down by the BVI Commercial Court in a number of cases that have been brought by the liquidators of Fairfield Sentry Limited (“Fairfield”), a “feeder fund” into Bernard L Madoff Investment Securities Limited (“BLMIS”), against a number of investors that historically redeemed out of the fund (the “Fairfield judgment”). Subject to any appeal, the Fairfield judgment should put an end to the liquidators’ claims in the BVI. The answer to that question will, however, ultimately depend on how the Commercial Court rules in the defendants’ reverse summary judgment application, which has been listed for hearing in the week commencing 26 September 2011. Ogier represents a significant number of defendants being sued in these proceedings.
To read the full article, click here to download