Madoff Feeder Seeks $919M From Investment Manager

Law360, New York (October 28, 2011, 9:56 PM EDT) -- Bankrupt Madoff feeder fund Fairfield Sentry Ltd. wants $919.5 million in fees back from its investment manager Fairfield Greenwich Group, according to a Thursday filing in New York bankruptcy court.

Fairfield Sentry, which had entrusted 95 percent of its investors' money in Bernard L. Madoff Investment Securities LLC, claims Fairfield Greenwich Ltd. and Fairfield Greenwich (Bermuda) Ltd. breached their contractual duties by failing to use their best efforts to oversee the fund's investment activities and to perform due diligence on Madoff.

In an amended complaint filed...
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