ADDITIONAL CASES Fairfield Sentry Ltd. (In Liquidation), et al., Plaintiffs v. ABN Amro Schweiz AG a/k/a Amro (Switzerland) AG, et al., Defendants MEMORANDUM OPINION AND ORDER DENYING DEFENDANT’S MOTION TO DISMISS I. INTRODUCTION Pending before the Court is the motion of UBS Jersey Nominees Limited (“UBS Jersey” or “Defendant”), to dismiss the Fifth Amended Complaint (the “Amended Complaint”) for lack of personal jurisdiction. Mot. to Dismiss, ECF1 No. 853. The Court held a hearing on the Motion to Dismiss on May 3, 2024 (the “Hearing”). For the reasons set forth herein, the Court DENIES the Defendant’s Motion to Dismiss. II. JURISDICTION The Court has jurisdiction over this matter pursuant to 28 U.S.C. §§1334 and 157 and the Amended Standing Order of Reference dated January 31, 2012 (Preska, C.J.). This Court previously concluded that it has subject matter jurisdiction over this and related actions. See In re Fairfield Sentry Ltd., 2018 WL 3756343 (Bankr. S.D.N.Y. Aug. 6, 2018); see also Stip. Order, ECF No. 577. Personal jurisdiction is contested by the Defendant and will be discussed below. III. BACKGROUND This adversary proceeding was filed on September 21, 2010. Compl., ECF No. 1. Kenneth M. Krys and Greig Mitchell (the “Liquidators”), in their capacities as the duly appointed Liquidators and Foreign Representatives of Fairfield Sentry Limited (In Liquidation) (“Sentry”), Fairfield Sigma Limited (In Liquidation) (“Sigma”), and Fairfield Lambda Limited (In Liquidation) (“Lambda” and, together with Sentry and Sigma, the “Fairfield Funds”) filed the Amended Complaint on August 12, 2021. Am. Compl., ECF No. 679. Via the Amended Complaint, the Liquidators seek the imposition of a constructive trust and recovery of over $1.7 billion in redemption payments made by Sentry, Sigma, and Lambda to various entities known as the Citco Subscribers. Id.
1-2, 205-06; id. Exs. A-C.2 Of that amount, Defendant allegedly received over $4 million through redemption payments from its investment in Sentry. Opp’n at 1, ECF No. 1146; Declaration of Joshua Margolin in Support of the Liquidator’s Opposition (“Margolin Decl.”) Exs. 11-13, 18, ECF No. 1147 (Citco and Sentry Redemption Records). A. The BLMIS Ponzi Scheme This adversary proceeding arises out of the decades-long effort to recover assets of the Bernard L. Madoff Investment Securities LLC (“BLMIS”) Ponzi scheme.3 Am. Compl. 1. The Citco Subscribers allegedly invested, either for their own account or for the account of others, into several funds — including Sentry, Sigma, and Lambda — that channeled investments into BLMIS. Id.
