$212 Million Settlement Reached With Madoff Feeder Funds

NEW YORK - (Mealey's) The liquidation trustee of Bernard L. Madoff Investment Securities LLC (BLMIS) has reached a $212 million settlement with two BLMIS feeder funds, according to documents filed May 18 in a New York federal bankruptcy court ( Securities Investor Protection Corp. v. Bernard L. Madoff...

2nd Circuit: Madoff Trustee Cannot Sue Banks On Behalf Of Customers

NEW YORK - (Mealey's) The Second Circuit U.S. Court of Appeals on June 20 affirmed a district court's ruling that Bernard L. Madoff Investment Securities LLC (BMLIS) trustee Irving H. Picard cannot sue JPMorgan Chase & Co., HSBC Holdings PLC, UBS AG and UniCredit SpA for the banks' alleged...