Telegraph – Kingate Global Fund and Kingate Euro Fund are taking legal action in an effort to enforce an August deal in which they claim Deutsche agreed to pay $1bn for $1.6bn of claims the two funds have made against the estate of Mr Madoff.
The legal action provides a window into the market in Madoff claims that has developed over the last year. Buyers and sellers of the claims closely watch the efforts of Mr Irving Picard, a court-appointed lawyer tasked with recovering money for Mr Madoff’s investors.
