Investors who lost money to American swindler Bernard Madoff through a fund set up by UBS cannot seek compensation directly from the Swiss bank, a Luxembourg court ruled on Thursday, according to Reuters. The court rejected the demands of an initial small group of investors in the LuxAlpha fund who wanted to file individual claims against the bank, rather than having to go through the fund's liquidators. Franc Greff, who represents clients in four of the 10 cases being reviewed, said he would appeal against the decision.
