2013 & 2018, Luxembourg – the Netherlands – Monaco
Deminor represented and advised a syndicate of approximately 2,500 investors who had invested, either directly or via financial intermediaries, in various funds linked to Bernard Madoff, commonly referred to as Madoff feeder funds. The collective losses of these investors amounted to around EUR 300 million. Legal proceedings were initiated in multiple jurisdictions to pursue compensation from the fund managers, auditors, and custodians involved with the Madoff-related investments.
In addition, more than 4,000 investors appointed Deminor to assist in filing claims with the Madoff Victim Fund, an initiative established by the U.S. Department of Justice to compensate individuals who incurred losses from Madoff-related financial instruments.
Acting on behalf of its clients, Deminor secured a settlement with Fairfield Greenwich concerning the Madoff feeder funds Fairfield Sentry, Sigma, and Lambda. Furthermore, Deminor reached a settlement for clients who had invested in Herald (Lux) SICAV. Finally, through the Madoff Victim Fund, Deminor also recovered approximately EUR 200 million for its clients, achieving a recovery rate of 93.71% of their Madoff-related losses.
