Madoff Trustee Wins $180 Million Judgment in New York Against Vizcaya Fund

``Vizcaya missed a deadline to respond to the lawsuit, which seeks to recover money the hedge fund withdrew from its Madoff account less than four months before the conman’s December 2008 arrest. The default judgment applies to Vizcaya and affiliates Zeus Partners Ltd., Bermuda-based Siam Capital Management and the Cayman Islands-based Asphalia Fund Ltd... Recovery of Vizcaya’s damages may hinge on a ruling by the Supreme Court of Gibraltar, which is holding about $74 million on behalf of the hedge fund’s bank, Banque Jacob Safra (Gibraltar) Ltd. The default doesn’t apply to the bank, which was also sued by Picard and is challenging the claims. ''