Attorney fees are too high in the $1.34 billion final distribution agreement with Tremont Group Holdings Inc., Bernie Madoff’s second-largest feeder fund that lost billions in the Ponzi scheme collapse, the U.S. Court of Appeals for the Second Circuit said.
The decision by Judges Dennis Jacobs and Christopher Droney, and U.S. Court of International Trade Chief Judge Timothy Stanceu, sitting by designation, remanded the suit, In re Tremont Securities Law, State Law and Insurance Litigation, 08-cv-11117, back to Southern District Judge Thomas Griesa.
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