Citibank Tries To Sink $430M Madoff Clawback Suit
The bank wants U.S. Bankruptcy Judge Burton Lifland to dismiss trustee Irving Picard’s clawback action because it relies wholly on hindsight and fails to adequately allege that the bank acted in bad faith by receiving transfers from Madoff’s feeder funds, according to Citibank.
“The trustee’s ability to reverse-engineer Madoff’s Ponzi...
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