Cayman Fund Seeks To Revive $2B Claim Over Madoff Losses

Law360, London (April 20, 2021, 6:02 PM BST) -- A Cayman Islands investment fund urged the highest court for overseas British territories on Tuesday to revive its breach of contract claim against Bank of Bermuda and an HSBC subsidiary for $2 billion in damages as the result of losses from Bernie Madoff's massive Ponzi scheme.

An investment fund in the Cayman Islands, pictured, said the Judicial Committee of the Privy Council should overturn a decision that the fund's claims are barred. (AP Photo/David McFadden) Primeo Fund said the Judicial Committee of the Privy Council, which sits in London, should overturn a decision by the Court of Appeal of the Cayman...

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