Wash. Court Puts Madoff Feeder Fund Back On Hot Seat

Law360, New York (August 14, 2013, 6:32 PM EDT) -- A Washington appeals court on Wednesday revived a money manager's suit against a Bernard Madoff feeder fund for improper due diligence that allegedly contributed to the manager's loss of $195 million.

The verdict overturned a decision by Kings County Superior Court, which had initially dismissed the charges brought by FutureSelect Portfolio Management Inc. The lower court ruled that FutureSelect could not sufficiently prove that actions by the feeder fund — Tremont Group Holdings Inc. and its parent firms and auditor — entitle FutureSelect to seek monetary...
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