CI funds ignored lawsuits

(Bloomberg): The trustee liquidating Bernard Madoff’s business told a judge thattwo offshore hedge-fund firms accused of profiting from the fraud are ignoring his lawsuits seeking a total of $230.7 million in damages. Trustee Irving Picard asked the U.S. Bankruptcy Court in Manhattan to file default notices against the Cayman Islands-based Primeo Fund and Bermuda-based Alpha Prime Fund Ltd., court papers show. Two offshore firms sued earlier for a total of $1.2 billion also have ignored Picard’s lawsuits.

Go to article