Hundreds Want Madoff Suits Out Of Bankruptcy Court

Law360, New York (April 2, 2012, 8:07 PM EDT) -- Hundreds of parties sought Monday to have clawback suits filed by the trustee liquidating Bernard Madoff's brokerage removed to a federal district court, saying a New York bankruptcy court is not the proper forum.

Trustee Irving H. Picard filed the suits seeking the return of transfers from companies such as Wichita, Kan.-based Koch Industries, saying the funds were fraudulent transfers from Bernard L. Madoff Investment Securities LLC. The suit seeks repayment of the funds plus interest.

Koch was one of about 400 parties seeking to have...
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