UBS, Others Ask 2nd Circ. To Bury $30B Of Madoff Claims

Law360, New York (April 6, 2012, 4:18 PM EDT) -- JPMorgan Chase & Co., UBS AG and HSBC Holdings PLC fired back Thursday at the bankruptcy trustee of the Madoff investment firm, urging the Second Circuit to uphold two rulings that tossed $30 billion in claims against the banks.

In separate appeals, the banks all said that that Irving H. Picard — the trustee overseeing the liquidation of the imprisoned Ponzi schemer's namesake Bernard L. Madoff Investment Securities LLC — couldn't collect the claims from the banks for allegedly aiding Madoff in his massive Ponzi scheme....
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