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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