Mets Owners Fight Madoff Trustee’s Clawback Cap Appeal

Law360, New York (October 24, 2011, 7:46 PM EDT) -- The owners of the New York Mets on Friday challenged a request by the bankruptcy trustee for Bernard L. Madoff’s investment company for a quick appeal of a ruling limiting his ability to reclaim alleged profits from Madoff’s massive Ponzi scheme.

Bernard L. Madoff Investment Securities LLC trustee Irving H. Picard had asked U.S. District Judge Jed Rakoff on Oct. 7 for a direct entry of final judgment on his order, which invoked a bankruptcy law provision protecting stockbrokers to cap a clawback claim against Sterling...
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