Deutsche Bank sues Madoff feeder funds for reneging on $1.6 bln claims sale

NEW YORK (Reuters) - Deutsche Bank has sued two offshore funds that funnelled money to Bernard Madoff for 14 years, accusing them of reneging on their agreement to sell more than $1.6 billion (1.2 billion pounds) of claims in the bankruptcy of the swindler's firm.In a complaint filed on Thursday night, the bank said Kingate Global Fund and Kingate Euro Fund exhibited "sellers' remorse" by backing out of their 2011 agreement to sell the claims at 66 cents on the dollar, after the value of the..