Deutsche Bank AG has settled a lawsuit in which it accused two offshore funds of reneging on an agreement to sell it $1.6 billion of claims in the bankruptcy of Bernard Madoff's namesake firm.
has settled a lawsuit in which it accused two offshore funds of reneging on an agreement to sell it $1.6 billion of claims in the bankruptcy of Bernard Madoff's namesake firm.
The funds sold their claims against the former Bernard L. Madoff Investment Securities LLC to Deutsche Bank for 66 cents on the dollar in 2011. Deutsche Bank had no immediate comment on Friday. Lawyers for the Kingate funds did not immediately respond to requests for comment.
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