Madoff trustee says Cayman and Bermuda funds ignored lawsuits
Friday, August 21, 2009 : PermalinkCaribbean Net News – The trustee liquidating Bernard Madoff’s business told a judge that two Cayman Islands and Bermuda hedge-fund firms accused of profiting from the fraud are ignoring his lawsuits seeking a total of $230.7 million in damages.
Trustee Irving Picard on Wednesday asked the US Bankruptcy Court in Manhattan to file default notices against the Cayman Islands-based Primeo Fund and Bermuda-based Alpha Prime Fund Ltd., court papers show. Two offshore firms sued earlier for a total of $1.2 billion also have ignored Picard’s lawsuits.
Tags: alpha prime, bermuda, bernard madoff, caribbean, cayman islands, damages, default notices, fraud, hedge fund, lawsuits, manhattan, offshore firms, picard, prime-fund, rsquo, trustee, us bankruptcy court
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