NY Judge To Take On Madoff Trustee's $100M Maxam Suit

Law360, New York (March 14, 2012, 10:40 PM EDT) -- A New York district judge on Wednesday agreed to oversee the Bernard L. Madoff liquidation trustee’s suit against Maxam Absolute Return Fund Ltd. seeking $100 million in connection with the imprisoned fraudster's Ponzi scheme.

U.S. District Judge Jed S. Rakoff granted a motion to withdraw the bankruptcy reference to address a handful of issues surrounding the suit.

The district court will address whether liquidation trustee Irving H. Picard may void certain Bernard L. Madoff Investment Securities LLC transfers purportedly made to satisfy prior debts and if federal...
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