Primeo Fund v HSBC: Grand Court rules that Madoff feeder fund was “the author of its own misfortune”

In a landmark judgment of the Grand Court of the Cayman Islands delivered on 23 August 2017 in Primeo Fund (in Official Liquidation) (“Primeo”) v Bank of Bermuda (Cayman) Ltd (“BBCL”) and HSBC Securities Services (Luxembourg) S.A (“HSSL”),[1] Mr Justice Jones QC dismissed the claim brought by Primeo, a Madoff feeder fund, against its custodian and administra

Filed under:
Cayman Islands, Insolvency & Restructuring, Litigation, Campbells, Security (finance), Contributory negligence, Liquidation
Authors:
Andrew Pullinger , Shaun Tracey , Hamid Khanbhai
Location:
Cayman Islands
Firm:
Campbells