Bank of Butterfield sued for $115 million by Evergreen Security Bankruptcy Trustee

Bermuda-based Bank of Butterfield is being sued for $115 million by the by the Bankruptcy Trustee of Evergreen Security, an unlicensed mutual fund which defrauded its investors of over $200 million.
The Bank is being sued in its capacity as a custodian for Evergreen, as is Bear Stearns, which is a defendant in a separate action.