Recent Posts

TOUSA Fraudulent Conveyance Judgment Reversed by District Court
Posted on 16 Feb 2011 by Stephen Sather

In a 113 page opinion, U.S. District Judge Alan S. Gold has reversed a controversial fraudulent conveyance judgment in the TOUSA bankruptcy case. In re TOUSA, Inc. , Case No. 10-60017 (S.D. Fl. 2/11/11). You can find the opinion here . A Series... Read More

Ben Feder of Kelley Drye & Warren Discusses the Madoff Trustee's Lawsuit Against the Owners of the New York Mets
Posted on 1 Mar 2011 by LexisNexis Bankruptcy Law Community Staff

On this edition, Benjamin D. Feder of Kelley Drye & Warren LLP discusses the background of the lawsuit filed by Irving Picard, trustee of Bernard L. Madoff Investment Securities LLC, against the Wilpon Group, owner of the New York Mets. Mr. Feder... Read More

Debtor Wins Big Damages in Fraudulent Conveyance Case
Posted on 18 Nov 2010 by Stephen Sather

When fraudulent transfer claims arise in bankruptcy, the debtor is usually accused of being the dishonest transferor. However, in a recent case from Chief U.S. Bankruptcy Judge Ronald King, the Debtor successfully pursued a claim against her disbarred... Read More

Madoff Trustee vs. the Wilpons - Meet the Mess
Posted on 4 Feb 2011 by Kelley Drye & Warren LLP

Fred Wilpon, the owner of the New York Mets , was a close friend of Bernie Madoff, and it has been generally believed since the outset of the scandal that Wilpon, his family and affiliated enterprises lost hundreds of millions in the great Ponzi scheme... Read More

Payment of Interest on Investment or Loan: Does it Matter in a Ponzi Scheme?
Posted on 27 Feb 2013 by Kathy Bazoian Phelps

In the consolidated bankruptcy proceeding of Frederick Darren Berg and the Meridian Funds, the trustee filed several fraudulent transfer actions. In one of them, against Jack W. Brown and Margaret A. Heftel, the trustee claimed that fictitious interest... 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

The Reach of Receivers in Ponzi Scheme Cases: Where There Is a Will, There Is a Way
Posted on 26 Nov 2012 by Kathy Bazoian Phelps

One of a receiver's duties in administering a Ponzi scheme case is to commence appropriate litigation to avoid and recover property that the Ponzi schemer fraudulently transferred to third parties. By law, a receiver generally has the benefit of... Read More