Deals & Cases
MLL Legal Successfully Defends Fund Adviser in USD 50 Million Ponzi Scheme-Related Claim
MLL Legal successfully defended a fund advisory firm against a USD 17 million claim — part of alleged losses totalling USD 50 million — brought by a former client whose hedge fund investments were wiped out in the Thomas Petters Ponzi scheme.
The case, heard before a tribunal in the Canton of Vaud, was one of the first to test how far a fund adviser’s duty to investigate extends when acting for a sophisticated professional investor — making the outcome a significant marker for the advisory industry.
Léonard Stoyanov from MLL Legal prevailed in a series of hard-fought procedural disputes throughout the multi-year proceedings.
