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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