Two Hedge Funds Are Suing Deutsche Bank For Allegedly Not Keeping Its Word To Buy Madoff Claims

Two hedge funds have filed a lawsuit against Deutsche Bank, alleging that the German institution is backing out of a $1 billion deal to buy their claims for losses from investments with Bernie Madoff after the value of the claims fell over $90 million, according to the Wall Street Journal. The claims’ worth fell after a series of court rulings against the Madoff trustee, Irving Picard.

The two funds are Kingate Global Fund and Kingate Euro Fund, which both have been in a liquidation process since Madoff’s $65 billion Ponzi scheme blew up in 2009 because they had all their assets invested with Madoff’s company. Kingate is already wrapped up in legal troubles—it’s being sued by Picard for ignoring the Ponzi scheme despite warning signals.

Read more: http://articles.businessinsider.com/2011-12-22/wall_street/30545750_1_madoff-trustee-irving-picard-ponzi-scheme#ixzz1hGUKk7wI

Coho Capital 2Q20 Commentary: Podcasts, The New Talk Radio

Coho Capital LogoCoho Capital commentary for the second quarter ended June 30, 2020. Q2 2020 hedge fund letters, conferences and more Dear Partners, Coho Capital returned 46.6% during the first half of the year compared to a loss of 3.1% in the S&P 500. Many of our holdings, such as Netflix, Amazon, and Spotify, were perceived beneficiaries Read More