Investors' Bid To Oust Madoff Trustee Fails On Appeal

Law360, New York (February 23, 2012, 4:22 PM EST) -- A New York federal judge on Thursday said a bankruptcy judge was right not to remove the Bernard L. Madoff Investment Securities LLC liquidation trustee, despite investors' claims that he withheld information about a $220 million settlement with a Madoff associate's heirs.

The investors, led by Marsha Peshkin, had based their April 11 appeal on their claim that BLMIS trustee Irving H. Picard had concealed material information that, had it been known, should have caused U.S. Bankruptcy Judge Burton R. Lifland to reject the settlement....
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