PE Firm Founder Sues Madoff Feeder Fund

Law360, New York (December 13, 2010, 5:41 PM EST) -- John Patience, founder of private equity firm Crabtree Partners LLC, has filed suit against Tremont Group Holdings Inc., saying that the feeder fund entrusted his $5 million investment to Bernard L. Madoff's firm without conducting the necessary oversight of its operations.

The complaint, lodged Friday in the U.S. District Court for the Southern District of New York, alleges that Tremont breached its fiduciary duties and contractual obligations to investors by misrepresenting the amount of oversight it exercised and ignoring a slew of obvious red flags at...
To view the full article, register now.




Case Information

Case Title

Patience et al v. Massmutual Holding LLC et al

Case Number



New York Southern

Nature of Suit

Contract: Other


Thomas P. Griesa

Date Filed

December 10, 2010

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.