Madoff Victims Take 'Net Equity' Ruling To 2nd Circ.

Law360, New York (March 23, 2010, 12:44 PM EDT) -- Investors who bought in to Bernard L. Madoff's epic Ponzi scheme have asked the U.S. Court of Appeals for the Second Circuit to hear their challenge to a bankruptcy judge's decision approving a “cash in/cash out” method to value their claims.

Groups representing dozens of Madoff victims began filing notices of appeal in the U.S. Bankruptcy Court for the Southern District of New York on Thursday, with the number of notices reaching nearly a dozen by Tuesday morning.

Judge Burton R. Lifland paved the way for...
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