Velvel Loses Latest Appeal Bid Against Madoff Trustee

Law360, New York (January 31, 2011, 6:31 PM EST) -- A law professor and former investor who disagrees with the equity disbursement plan by the trustee overseeing the liquidation of Bernard L. Madoff's securities firm has lost his bid to stop the trustee from pursuing avoidance actions.

Judge Burton Lifland of the U.S. Bankruptcy Court for the Southern District of New York denied a motion to stay and appeal a Nov. 10 ruling that allowed Irving R. Picard to move forward with suits against investors, filed by Lawrence R. Velvel, dean of the Massachusetts School of...
To view the full article, register now.