The legal fight involves the liquidators of feeder funds who are trying to claw back losses from the “net winners” from Madoff´s activities. The Judicial Committee of the Privy Council is the “final Court of Appeal for the the UK overseas territories and Crown dependencies”.
Once again, ultimate responsibility for governance of a secrecy jurisdiction is found to be in London.
Bonus links: the biographies of the Justices page is worth a look: it includes the wonderfully named Lord Sumption. And as if to emphasize that the Judicial Committee of the Privy Council is essentially a relic of colonial times, here is the first item on the “Did You Know” section of the website:
“In the 1920s, it was said that people living on a quarter of the planet could bring their appeals to the JCPC (including Canada, Australia, New Zealand India and parts of Africa).”