Sentry Clawback Suits Stay In Ch. 15 Court For Now

Law360, New York (November 23, 2010, 4:56 PM EST) -- A federal judge has ruled that a bankruptcy court must decide the appropriate venue for more than 40 actions Fairfield Sentry Ltd., the largest Madoff feeder fund, filed to claw back $3.8 billion from banks, insurers and other financial firms.

Judge Loretta A. Preska of the U.S. District Court for the Southern District of New York on Monday denied a series of motions to withdraw the bankruptcy reference on 42 clawback actions Sentry filed, finding a ruling on the issue premature.

Neither the district court nor...
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