2 Madoff Clawback Suits Head To District Court

Law360, New York (October 20, 2011, 3:54 PM EDT) -- A New York federal judge agreed Thursday to take on two Bernard L. Madoff Investment Securities LLC clawback suits, saying the cases had enough in common with others on his plate to warrant removal from bankruptcy court.

BLMIS liquidating trustee Irving Picard filed the suits as part of his Southern District of New York bankruptcy proceedings seeking to recover allegedly improper transfers to a slew of funds that invested in BLMIS and claw back the money from its ultimate recipients.

According to court filings, U.S. District...
To view the full article, register now.