Mets Owners Push To Kill $386M Madoff Clawback Suit

Law360, New York (February 23, 2012, 10:33 PM EST) -- The owners of the New York Mets argued Thursday that the $386 million case brought against them by Bernard L. Madoff's bankruptcy trustee can be tossed without trial, saying there is no evidence the men knew about Madoff's fraud.

To claw back withdrawals Mets owners Fred Wilpon and Saul Katz took from accounts they kept with Madoff, trustee Irving Picard must show that the two were willfully blind to evidence that Madoff was running a Ponzi scheme.

That will prove an impossible burden, said their attorney,...
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Case Title

Irving H. Picard v. Saul B. Katz et al


Case Number

1:11-cv-03605

Court

New York Southern

Nature of Suit

Bankruptcy Withdrawl

Judge

Jed S. Rakoff

Date Filed

May 25, 2011

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