Three City law firms have joined a world alliance of legal firms representing claimants who lost out in the alleged $50 billion (£34.8 billion) fraud by Bernard Madoff, the American broker.
From the Times:
Three City law firms have joined a world alliance of legal firms representing claimants who lost out in the alleged $50 billion (£34.8 billion) fraud by Bernard Madoff, the American broker.
Lawyers from Edwin Coe, Bristows and Speechly Bircham attended the first meeting of the Madoff Case Global Alliance of Law Firms held in Madrid yesterday.
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The British companies were joined by lawyers from 21 countries, including the United States, France, Mexico, Uruguay, Switzerland, Italy, France, Argentina, Chile, Panama, Israel, German, Lithuania, Colombia, Brazil, Austria, Ecuador, Luxembourg, Malta and Portugal.
They represent banks, hedge funds, public bodies and individual investors. The alliance, coordinated by the Spanish law firm Cremades Calvo-Sotelo, claims to represent up to three million people who may have lost out in the alleged fraud.
To read the full story, visit timesonline.co.uk
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