Mayer Brown defends five Lloyd's syndicates from Madoff action
Law firm Mayer Brown has helped defend an action from Swiss financial advisers Genevalor, Benbassat & Cie on behalf of three funds under an insurance policy.
February 11, 2014 at 07:21 AM
1 minute read
Mayer Brown has helped defend an action from Swiss financial advisers Genevalor, Benbassat & Cie on behalf of three funds, who invested with a company owned by fraudster Bernie Madoff.
The US firm worked with Swiss firms Python & Peter in Geneva and Prager Dreifuss in Zurichon the case, heard at the Swiss Federal Court. The firms successfully defended five Lloyd's syndicates against a CHF42m (£28.5m) claim.
The three funds, Hermes International Fund, Thema Fund and Thema International Fund had all invested with Madoff's company, BLMIS, claiming to have assets worth approximately $2bn invested.
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