Tag Archives: lawsuits

HSBC Faces Madoff-Linked Repayment Claims in Dublin

Bloomberg – HSBC Holdings Plc, Europe’s largest bank, is facing lawsuits in Ireland by investors faulting the lender for how it performed as custodian for money lost in Bernard Madoff’s $65 billion Ponzi scheme. A Dublin court may rule tomorrow […]

Madoff trustee says Cayman and Bermuda funds ignored lawsuits

Caribbean 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 […]

‘Terminator Salvation’ producers sue hedge fund Pacificor

Los Angeles Times – Derek Anderson and Victor Kubicek, producers of Warner Bros.’ and Sony Pictures’ May release ”Terminator Salvation,” have filed a pair of $30-million lawsuits: One against Santa Barbara hedge fund Pacificor, which lent them money to buy […]

Facing suits, Merkin sells art trove

Boston Globe – It’s been a bad few months for New York financier J. Ezra Merkin. First, his hedge funds lost $2.4 billion in the Bernard Madoff swindle. Then, he lost his post as chairman of GMAC Financial Services. Now, […]

Investing in Lawsuits, for a Share of the Awards

Sarasota Herald-Tribune – Richard W. Fields says he has come up with a win-win financial strategy for the downturn. He is investing in lawsuits. Not in trip-and-fall cases, mind you, but in disputes that are far larger, more costly and […]

Hedge Fund Insurance Costs Rise as Lehman, Madoff Spur Scrutiny

Bloomberg – The cost of insuring hedge funds against negligence has risen as much as 20 percent in the past six months after Lehman Brothers Holdings Inc.’s bankruptcy and Bernard Madoff’s Ponzi scheme increased the threat of lawsuits. A fund […]

Bay State firm is sued in Madoff scandal

Boston Globe – Investors of disgraced financier Bernard Madoff have filed 18 lawsuits against Massachusetts Mutual Life Insurance Co. in an effort to recoup $3.3 billion that its hedge fund group lost in the scandal. But the Springfield insurer is […]

Hedge Fund Honchos Burned in Scam Start Fire Sale

New York Post – The founders of a New York hedge fund at the center of the Bernard Madoff scandal have begun selling assets as their firm faces massive losses and a slew of lawsuits, sources told The Post. Walter […]

Cayman Islands in the Foreign Press

Caymen Net News – Insolvency lawyers in Scotland should take an interest in a bankruptcy case in the Cayman Islands involving two Bear Stearns hedge funds and an American judge with the wonderful name of Burton Lifland. The issue is […]

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