Madoff Investors Fight 'Net Equity' Ruling In 2nd Circ.

Law360, New York (August 10, 2010, 6:13 PM EDT) -- More than 100 investors in Bernard L. Madoff's colossal Ponzi scheme have launched their appeal of a bankruptcy judge's decision approving a controversial “net equity” method to value their claims.

Groups representing the appellants filed a total of six briefs in the U.S. Court of Appeals for the Second Circuit on Monday, arguing that their claims should be calculated using the “last statement” method, which would base their reimbursement on the balances shown on the Nov. 30, 2008, account statements provided to them by Madoff's firm...
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