Madoff Funds Drop Deutsche Bank Suit Over $1.6B Debt

Law360, New York (January 3, 2014, 3:51 PM EST) -- Two Bernard L. Madoff Investment Securities LLC feeder funds have dropped their case against Deutsche Bank Securities Inc. over a deal that allegedly bound the bank to buy up $1.6 billion of the funds’ Madoff debt, according to court documents filed Thursday.

U.S. District Judge Deborah A. Batts approved a stipulation Kingate Global Fund Ltd. and Kingate Euro Fund Ltd. signed onto with Deutsche Bank to dismiss the lawsuit without prejudice, with each party bearing their own costs. No further details were available and counsel for...
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