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
Saul Katz, the owners of the New York Mets, and...
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 by Irving
Picard, the trustee of Bernard L....
"An under-appreciated evil of substantial
frauds . . . is how they pit their victims against one another." United
States v. Dreier , 682 F. Supp. 2d 417, 418 (S.D.N.Y. 2010).
In the typical Ponzi case, some victims may
employ strategies to seek advantage over other victims. These may...
A recent New York Times article by Andrew Ross Sorkin
severely and unfairly criticizes Irving Picard, the trustee for the Bernard L.
Madoff Ponzi scheme. It states, "Mr. Picard has had much more success
collecting money for himself and a dozen law firms and consultants than any
victim of Mr...
In connection with the SIPA proceeding of Bernard L.
Madoff Investment Securities, LLC, the district court issued its ruling on
whether the U.S. Supreme Court decision in Stern
v. Marshall , 131 S. Ct. 2594, 180 L. Ed. 2d 475 (2011), prohibits the bankruptcy
court from issuing a final ruling on a...
NEW YORK - (Mealey's) The brother of convicted Ponzi
scheme mastermind Bernard L. Madoff has agreed to pay more than $90 million to
settle claims that he participated in his brother's massive Ponzi scheme but
could escape any payment under a consent order filed Feb. 6 in a New York