Madoff Foreign Entanglement Ruling Unsurprising

Law360, New York (July 18, 2014, 11:29 AM EDT) -- U.S. District Judge Jed S. Rakoff of the Southern District of New York held on July 6, 2014, that the Madoff Securities SIPA trustee could not recover customer funds subsequently transferred abroad by "foreign feeder funds" to their foreign "customers, managers, and the like." Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC (In re Madoff Securities), *1 (SDNY July 6, 2014)....

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