Liquidators of LuxAlpha, Madoff Trustee Abandon Mediation

The liquidators of a Luxembourg fund linked to con man Bernard L. Madoff’s Ponzi scheme and the trustee for his investment firm abandoned efforts to find an agreement by mediation, sending the case back to court.

The two sides “have agreed to terminate the mediation they entered into on October 2018,” the liquidators for Access International Advisors LLC’s LuxAlpha Sicav-American Selection said in a statement on their website on Wednesday. “No settlement was agreed to in the mediation, and the case will return to the New York bankruptcy court for further adjudication.”

LuxAlpha fund invested 95% of its money ...