Madoff Trustee Trims $245M Clawback Suit Against Plaza

Law360, New York (September 28, 2011, 6:59 PM EDT) -- The trustee leading bankruptcy recovery efforts for victims of Bernard Madoff's $65 billion Ponzi scheme dropped some claims Monday in his $245 million clawback suit against feeder fund Plaza Investments International Ltd., saying he will only pursue claims filed on behalf of Madoff’s estate.

In a joint stipulation of dismissal filed in New York federal court, Irving H. Picard agreed to drop common law claims for conversion and unjust enrichment against co-defendants Plaza Investments and its asset manager, Notz Stucki Bermuda.

The dismissal stems from a judge's...
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Case Information

Case Title

Irving H. Picard v. Plaza Investments International Limited et al

Case Number



New York Southern

Nature of Suit

Bankruptcy Withdrawal


Jed S. Rakoff

Date Filed

July 29, 2011

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