How They Won It: Skadden Scores For UniCredit At 2nd Circ.

Law360, New York (July 22, 2013, 10:15 PM ET) -- When the trustee for Bernard Madoff’s estate attempted to resurrect billions in claims against banks he accused of aiding Madoff's massive Ponzi scheme, attorneys from Skadden Arps Slate Meagher & Flom LLP acting on behalf of UniCredit SpA took aim at the purported precedent cited by the trustee and gutted the case.

Madoff trustee Irving H. Picard had attempted to establish so-called “bailment standing” to go after UniCredit, along with JPMorgan Chase & Co., HSBC Holdings PLC and UBS AG on behalf of Bernard L. Madoff...
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