More Than 300 Madoff Clawback Cases Moved To District Court

More Than 300 Madoff Clawback Cases Moved To District Court

NEW YORK - A federal judge in New York on April 13 withdrew from a federal bankruptcy court, in part, more than 300 clawback suits filed by the liquidation trustee of Bernard L. Madoff Investment Securities LLC (BLMIS) so that he may address whether the U.S. Supreme Court's ruling in Stern v. Marshall, 131 S. Ct. 2594 (2011),   prevents the bankruptcy court from entering a final judgment that would resolve the trustee's claims "to avoid or recover initial or subsequent transfers as fraudulent transfers" (Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC, No. 12-mc-0115, S.D. N.Y.). Subscribers may view the order available within the full update.

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