Bank Austria Wins Dismissal Of Some Madoff Claims

Law360, New York (August 9, 2011, 1:19 PM EDT) -- A New York federal judge on Monday dismissed common law claims against the Austrian unit of UniCredit SpA brought by the liquidation trustee for imprisoned fraudster Bernard L. Madoff's bankrupt investment company, extending an earlier ruling that dashed billions of dollars of claims against other alleged Madoff accomplices.

U.S. District Judge Jed S. Rakoff extended his July 28 ruling to UniCredit Bank Austria AG. The July ruling dismissed approximately $6.6 billion in common law claims against HSBC Bank PLC brought by Irving H. Picard, the trustee...
To view the full article, register now.