Madoff’s Sons Can't Appeal Picard's $198M Suit: Judge

Law360, New York (December 23, 2011, 1:14 PM EST) -- Bernard Madoff’s sons lost their bid Thursday to appeal to a New York federal court a bankruptcy judge’s ruling that a $198 million suit alleging they ignored the Bernard L. Madoff Investment Securities LLC Ponzi scheme should be allowed to continue.

U.S. District Judge William Pauley III refused to take up the appeal of U.S. Bankruptcy Judge Burton R. Lifland’s ruling for BLMIS trustee Irving Picard, meaning Andrew Madoff and the estate of Mark D. Madoff cannot dodge the breach of fiduciary duty, negligence and unjust...
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