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

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

Looks Like Fred Wilpon Picked the Wrong Week to Quit Drinking
Posted on 31 May 2011 by Kelley Drye & Warren LLP

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... 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

Mets' Owners Swing for the Fences Against Madoff Trustee
Posted on 25 Aug 2011 by Kelley Drye & Warren LLP

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... Read More