Bankruptcy

Recent Posts

Stockbroker Safe Harbor Defense in Ponzi Schemes Remains Unresolved Following Picard v. Katz Settlement
Posted on 21 Mar 2012 by Kathy Bazoian Phelps

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... Read More

Parties Seek Approval of $80M Settlement in Madoff Feeder Fund Suit
Posted on 7 Nov 2012 by Timothy Raub

NEW YORK - (Mealey's) Investors on Nov. 6 asked a federal judge in New York to preliminarily approve a potential $80.25 million settlement of claims that defendants concealed that the investors' funds were being placed in accounts that were... Read More

Five Weeks Until Pitchers and Catchers Report, Eight Weeks Until Lawyers Report - Madoff Judge Confirms Mid-March Trial For Trustee's Claims Against Mets' Owners
Posted on 19 Jan 2012 by Kelley Drye & Warren LLP

Judge Jed S. Rakoff this week denied the request of Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC ("BLMIS") , to pursue an immediate appeal of Judge Rakoff's recent decision to dismiss most of the counts set forth... Read More

Wall Street Journal Talks with “The Ponzi Book” Co-Author Kathy Bazoian Phelps about Madoff-NY Mets Settlement
Posted on 20 Mar 2012 by LexisNexis Bankruptcy Law Community Staff

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... Read More

Madoff Trustee Agrees To $162M Settlement With New York Mets’ Owners
Posted on 19 Mar 2012 by LexisNexis Bankruptcy Law Community Staff

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'... Read More

Meet the Mess, Cont'd -- Former Governor Cuomo Asked to Mediate Madoff Trustee's Lawsuit Against Mets Owners
Posted on 15 Feb 2011 by Kelley Drye & Warren LLP

Judge Burton Lifland , the bankruptcy judge overseeing the liquidation proceedings of Bernard L. Madoff Investment Securities LLC ("BLMIS") made a shrewd decision last week in appointing, on his own initiative, former Governor Mario Cuomo... Read More

Madoff Trustee Asks the Second Circuit to Overturn Standing Rulings
Posted on 27 Feb 2012 by Kathy Bazoian Phelps

by Kathy Bazoian Phelps Irving Picard, the trustee in the SIPA bankruptcy proceeding of Bernard L. Madoff Investment Securities, LLC, has asked the Second Circuit Court of Appeals to overturn two decisions from the Southern District of New York... Read More

LexisNexis® Legal News Podcast for Nov. 17, 2010-Madoff Bankruptcy Trustee Secures $1B Judgment Against Feeder Fund
Posted on 18 Nov 2010 by LexisNexis Bankruptcy Law Community Staff

A Madoff bankruptcy trustee secures an approximately $1 billion judgment against a feeder fund, and, the 5th Circuit affirms a boat owner took reasonable precautions in preparing for Hurricane Katrina. Hear these and other stories from LexisNexis®... Read More

As Madoff Five Year Anniversary Approaches, Investors Denied Time-Based Damages
Posted on 8 Oct 2013 by Kelley Drye & Warren LLP

Two months from now will bring the five year anniversary of the unraveling of Bernie Madoff’s Ponzi scheme, one of the bookends, along with the collapse of Lehman Brothers ., of the extraordinary Fall of 2008 . To date, Trustee Irving Picard has... Read More

Madoff Trustee's Amended Complaint - More Bad Stuff 'bout the Mets (Owners)
Posted on 24 Mar 2011 by Kelley Drye & Warren LLP

Irving Picard, 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... Read More