Privy Council confirms Madoff investors who redeemed shares before suspension are creditors

Privy Council confirms Madoff investors who redeemed shares before suspension are creditors

The Judicial Committee of the Privy Council has confirmed that investors in the Madoff Ponzi scheme feeder fund Herald who redeemed their shares in the fund but remained unpaid before it entered liquidation, are to be treated as creditors of its estate.

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