Judge Unites 300 Madoff Suits For Ruling On Stern Impact

Law360, New York (April 13, 2012, 10:18 PM EDT) -- A New York federal judge on Friday combined more than 300 clawback suits filed by the trustee for Bernard L. Madoff Investment Securities LLC to address whether the U.S. Supreme Court’s ruling in Stern v. Marshall prevents the bankruptcy court from resolving the trustee’s claims.

U.S. District Judge Jed Rakoff removed to district court any of Madoff trustee Irving Picard’s clawback suits in which the defendants had cited the Stern opinion as basis for removal of the bankruptcy reference.

Several of the parties facing clawback suits...
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