{"id":10098,"date":"2009-03-13T00:00:00","date_gmt":"2009-03-13T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"ubp-makes-offer-to-madoff-victims","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/ubp-makes-offer-to-madoff-victims.html","title":{"rendered":"UBP Makes Offer to Madoff Victims"},"content":{"rendered":"<p>New York Times Blogs &#8211; Swiss private bank Union Bancaire Priv&eacute;e, one of the largest European hedge-fund investors, offered Thursday to buy back $700 million of its clients&rsquo; Bernard L. Madoff-related investments at half what they originally paid.<\/p>\n<p>The bank, based in Geneva, will offer to pay clients the equivalent of 50 percent of the cost of their investment in five equal annual payments, plus 2 percent interest, J&eacute;r&ocirc;me Koechlin, a UBP spokesman, told Bloomberg News. The first payment would be made on Dec. 31, he added.<\/p>\n<p>&lsquo;&lsquo;The bank has decided to make a goodwill gesture,&rsquo;&rsquo; the company said in an e-mailed statement. This is &lsquo;&lsquo;designed to reinforce its partnership with its clients by offering a comprehensive financial package.&rsquo;&rsquo;<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/dealbook.blogs.nytimes.com\/2009\/03\/13\/ubp-makes-offer-to-madoff-victims\/\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Times Blogs &#8211; Swiss private bank Union Bancaire Priv&eacute;e, one of the largest European hedge-fund investors, offered Thursday to buy back $700 million of its clients&rsquo; Bernard L. Madoff-related investments at half what they originally paid. The bank, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[9014,5463,49,9013,1482,4291,5507,4502,4545],"class_list":["post-10098","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-blogs","tag-fund-investors","tag-geneva","tag-goodwill-gesture","tag-investments","tag-new-york-times","tag-partnership","tag-private-bank","tag-spokesman"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10098"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10098\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}