JPMorgan, UBS Try To Kill $21B Madoff Claims

Law360, New York (August 2, 2011, 4:23 PM EDT) -- Citing a recent favorable court ruling, JPMorgan Chase & Co. and UBS AG asked a New York federal judge on Monday to toss claims against them totaling $21 billion brought by the bankruptcy trustee overseeing the liquidation of imprisoned Ponzi schemer Bernard L. Madoff's investment firm.

The banks argue that the court should nix the common law claims against them, pointing to last week's decision by U.S. District Judge Jed S. Rakoff, in which he ruled that trustee Irving H. Picard's similar claims against HSBC Holdings...
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Case Information

Case Title

Irving H. Picard v. JPMorgan Chase & Co.


Case Number

1:11-cv-00913

Court

New York Southern

Nature of Suit

Bankruptcy Withdrawal

Judge

Colleen McMahon

Date Filed

February 8, 2011


Case Title

Picard v. UBS Fund Services (Luxembourg) SA


Case Number

1:11-cv-04212

Court

New York Southern

Nature of Suit

Bankruptcy Withdrawal

Judge

Colleen McMahon

Date Filed

June 21, 2011

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