Madoff Trustee Loses Bid To Consolidate Adversary Suits

Law360, New York (November 1, 2011, 8:15 PM EDT) -- A New York federal judge refused Tuesday to consolidate two adversary proceedings Bernard L. Madoff Investment Securities LLC bankruptcy trustee Irving Picard has filed against several banks and investment firms, saying the lead suit already has a home before her colleague.

U.S. District Judge Colleen McMahon pointed out that Picard's clawback suit against Trotanoy Investment Co. Ltd. and others has already been assigned to Judge Jed Rakoff and that it is not her place to take it off his hands and consolidate it with a similar...
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