United Kingdom Privy Council to hear Madoff feeder fund appeal
In September 2011, the British Virgin Islands (BVI) Commercial Court held that investors in Fairfield Sentry Limited (in liquidation) (Sentry), a feeder fund for Bernard L Madoff Investment Securities Limited (BLMIS), could not be forced to repay money received from the redemption of their shares in Sentry prior to its liquidation…
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The Bermuda government recently approved an amendment to Bermuda’s trust legislation.
A shareholder in a BVI company seeking to bring a derivative claim in Hong Kong must first obtain the permission of the BVI court.