British Virgin Island investors win landmark ruling to keep funds

The ruling follows a judgement last month in which the BVI court barred liquidators for the Fairfield Sentry hedge fund, driven to insolvency by the Madoff fraud, from claiming back from investors $1.4bn they withdrew from Madoff's scheme in the six years before he confessed to his fraud in December 2009. Investors were encouraged after this ruling to apply for summary judgment for the final disposal of BVI actions. This week they won a new ruling protecting investors who redeem out of BVI funds from attempts by the fund to clawback the money. Lawyers acting in the case said the la...