Mets Owners' $162M Madoff Settlement Wins Court OK

Law360, New York (May 31, 2012, 8:29 PM EDT) -- A New York federal judge on Thursday approved a $162 million settlement resolving the Madoff liquidating trustee's $303 million suit claiming the owners of the New York Mets willfully ignored Bernard L. Madoff's Ponzi scheme.

The settlement comes just as a trial was set to begin this week, in what U.S. District Judge Jed S. Rakoff said was a good resolution to the suit that drew no objections.

“This appears to the court to be a reasonable, adequate and fair settlement in the interests of the...
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Case Information

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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