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
Rakoff's recent decision to dismiss most of the counts set forth in Picard's
adversary proceeding against...
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' alleged profiting from Madoff's
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 Schemes and author of the The Ponzi Blog , about 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 that will now not go up on
appeal due to the settlement...