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

Tags: Madoff , New York Mets owners , Irving Picard , Fred Wilpon , Fraudulent Transfers

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

Tags: Madoff , New York Mets owners , Irving Picard , Fred Wilpon , Fraudulent Transfers

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

Tags: Madoff , New York Mets owners , Irving Picard , Fred Wilpon , Fraudulent Transfers

Judge Rakoff Squeezes Strike Zone for Madoff Trustee
Posted on 10 Oct 2011 by Kelley Drye & Warren LLP

Judge Jed S. Rakoff last week largely sided with Fred Wilpon and Saul Katz, the owners of the New York Mets , and their families and affiliated enterprises (the "Wilpon/Katz Group") on their motion to dismiss the adversary proceeding brought... Read More

Tags: Wilpon/Katz Group , Madoff Trustee , safe harbor provisions , New York Mets owners