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LexisNexis® Legal News Podcast for Nov. 17, 2010-Madoff Bankruptcy Trustee Secures $1B Judgment Against Feeder Fund

A Madoff bankruptcy trustee secures an approximately $1 billion judgment against a feeder fund, and, the 5th Circuit affirms a boat owner took reasonable precautions in preparing for Hurricane Katrina. Hear these and other stories from LexisNexis® Mealey's™ Publications. Copyright©...

Meet the Mess, Cont'd -- Former Governor Cuomo Asked to Mediate Madoff Trustee's Lawsuit Against Mets Owners

Judge Burton Lifland , the bankruptcy judge overseeing the liquidation proceedings of Bernard L. Madoff Investment Securities LLC ("BLMIS") made a shrewd decision last week in appointing, on his own initiative, former Governor Mario Cuomo to act as mediator in the lawsuit brought by Irving...

Madoff Trustee's Amended Complaint - More Bad Stuff 'bout the Mets (Owners)

Irving Picard, 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...

Five Weeks Until Pitchers and Catchers Report, Eight Weeks Until Lawyers Report - Madoff Judge Confirms Mid-March Trial For Trustee's Claims Against Mets' Owners

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 of Judge Rakoff's recent decision to dismiss most of the counts set forth in Picard's adversary proceeding against...

Madoff Trustee Asks the Second Circuit to Overturn Standing Rulings

by Kathy Bazoian Phelps Irving Picard, the trustee in the SIPA bankruptcy proceeding of Bernard L. Madoff Investment Securities, LLC, has asked the Second Circuit Court of Appeals to overturn two decisions from the Southern District of New York dismissing his common law claims against financial...

Madoff Trustee Agrees To $162M Settlement With New York Mets’ Owners

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 massive...

Wall Street Journal Talks with “The Ponzi Book” Co-Author Kathy Bazoian Phelps about Madoff-NY Mets Settlement

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 Safe Harbor Defense in Ponzi Schemes Remains Unresolved Following Picard v. Katz Settlement

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...

Parties Seek Approval of $80M Settlement in Madoff Feeder Fund Suit

NEW YORK - (Mealey's) Investors on Nov. 6 asked a federal judge in New York to preliminarily approve a potential $80.25 million settlement of claims that defendants concealed that the investors' funds were being placed in accounts that were part of Bernard L. Madoff's massive Ponzi scheme...

As Madoff Five Year Anniversary Approaches, Investors Denied Time-Based Damages

Two months from now will bring the five year anniversary of the unraveling of Bernie Madoff’s Ponzi scheme, one of the bookends, along with the collapse of Lehman Brothers ., of the extraordinary Fall of 2008 . To date, Trustee Irving Picard has recovered over $9.5 billion through litigation and...