Trustee Asks Court For Madoff 'Net Equity' Ruling

Law360, New York (August 31, 2009, 5:01 PM EDT) -- In response to several claims challenging his position on “net equity” for claims by victims of Bernard L. Madoff's historic Ponzi scheme, the trustee overseeing the liquidation of Madoff's investment firm has asked a bankruptcy court judge to determine how claims would be valued.

The trustee, Irving H. Picard, on Thursday asked Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York to determine how victims' claims against Bernard L. Madoff Investment Securities should be calculated as part of a...
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