Bermuda court ruling opens way for Madoff victims to fight to claim Kingate fees

A court ruling in Bermuda has paved the way for representatives of victims of the massive Bernard Madoff fraud to proceed with a civil battle to try to recover as much as $300 million in management fees collected by a company based here. Kingate Management Ltd, run out of a small three-person office on Front Street, Hamilton, purportedly fed $1.7 billion to Madoff’s New York firm, racking up the hundreds of millions of dollars in fees over more than a decade as huge sums of European and other investors’ money passed through Bermuda on the way to New York.
Read more in the Royal Gazette here.