NY AG Says Madoff Trustee Can't Stall $410M Deal

Law360, New York (March 6, 2013, 9:20 PM EST) -- New York Attorney General Eric T. Schneiderman urged a federal judge Tuesday to greenlight the state's $410 million settlement with Bernard L. Madoff associate J. Ezra Merkin, blasting the bankruptcy trustee's injunction motion as a baseless attempt to expand his authority.

Schneiderman claims Irving Picard, liquidation trustee for Madoff's bankrupt brokerage, seeks to hold up the deal while he pursues an avoidance action against Merkin even though he lacks the legal grounds for either an automatic stay or an injunction, according to a pleading filed in...
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