Foreign Madoff Defendants To Get Hearing In District Court

Law360, New York (June 8, 2012, 6:48 PM EDT) -- Merrill Lynch International, HSBC Bank PLC and other parties sued by the trustee liquidating the Madoff estate won a temporary withdrawal of their cases from New York bankruptcy court on Thursday and a hearing to determine whether the trustee can recover from foreign recipients of Madoff transfers.

U.S. District Judge Jed Rakoff signed off on an order moving 60 cases against foreign defendants from bankruptcy court to the U.S. District Court for the Southern District of New York to determine whether the Securities Investor Protection Act...
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