the trustee overseeing the liquidation of Bernard L. Madoff Investment
Securites ("BLMIS") , has filed an amended complaint
(the "Amended Complaint") that seeks to buttress his allegations against Fred Wilpon and
Saul Katz, the owners of the New York Mets, and...
The well known travails of Fred Wilpon, the principal
owner of the New York Mets, have all converged this past week. He, his
partner Saul Katz and their families and affiliated enterprises (the
"Wilpon/Katz Group") lost several hundred million dollars when Bernard Madoff's
Fred Wilpon, Saul
Katz, and their families and affiliated enterprises (the "Wilpon/Katz
Group") last week formally requested the dismissal of the adversary proceeding
commenced by Irving Picard, the trustee
of Bernard L. Madoff Investment Securities LLC ("BLMIS") . In a two
NEW YORK - (Mealey's) The owners of Major League
Baseball's New York Mets and the liquidation trustee of Bernard L. Madoff
Investment Securities LLC (BLMIS) agreed on March 19 to a $162 million
settlement of claims relating to the defendants' alleged profiting from Madoff's
The Wall Street
Journal's Bankruptcy Beat blog yesterday featured a conversation with
bankruptcy attorney Kathy Bazoian Phelps of Danning, Gill, Diamond &
Kollitz, LLP, co-author of the The Ponzi Book: A Legal Resource for Unraveling Ponzi Schemes and author of the The Ponzi Blog , about the...
stockbroker defense in § 546(e) of the Bankruptcy Code creates a safe harbor
for recipients of certain types of transfers and can bar fraudulent transfer
claims brought by a trustee. In Picard v.
Katz , this was a $1 billion issue, and one that will now not go up on
appeal due to the settlement...