2nd Circ. Asked To Kill Madoff Feeder's Caribbean Bankruptcy

Law360, New York (November 19, 2012, 9:51 PM EST) -- An investor in Bernard Madoff feeder fund Fairfield Sentry Ltd. urged the Second Circuit on Monday to overturn U.S. courts' recognition of the fund's Caribbean bankruptcy and greenlight a lawsuit, arguing the overseas proceedings have been below U.S. standards.

Fairfield's British Virgin Islands bankruptcy has, unlike a normal U.S. bankruptcy, been conducted entirely in secret, a lawyer for investor Morning Mist Holdings Ltd. said at oral arguments in Manhattan.

Morning Mist wants the appeals court to reverse a bankruptcy court's approval of the British Virgin Islands...
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