Judge: Trustee May Be Entitled To Recover Over $83M From Mets' Owners

NEW YORK - The trustee overseeing the Bernard L. Madoff Investment Securities LLC (BLMIS) bankruptcy proceedings may be entitled to recover more than $83 million from the owners of the New York Mets and other entities because he has shown that the "value" the defendants gave to BLMIS is "equal to the amount of their investment," a federal judge in New York ruled March 5 (Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC, No. 08-1789, [In re: Bernard L. Madoff Investment Securities LLC (Irving H. Picard v. Saul B. Katz, et al.), No. 10-5287], S.D. N.Y. Bkcy.; 2012 U.S. Dist. LEXIS 5143; See February 2012, Page 25). Full story on lexis.com