27 Feb 2024

Madoff Litigation Keeps on Going

In 2021, the U.S. Court of Appeals for the Second Circuit revived litigation in the Madoff case filed by the trustee seeking to recover hundreds of millions of dollars in allegedly fraudulent transfers made to former Madoff Inv. Sec. LLC’s customers and certain other defendants as part of the Madoff Ponzi scheme. Check out this expertly drafted article discussing a recent decision in the U.S. Bankruptcy Court for the Southern District of New York addressing certain defenses to fraudulent transfer claims.

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    Read this practice note to understand the differences between setoff and recoupment both inside and outside of bankruptcy.

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