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



New York Southern

Nature of Suit

Bankruptcy Withdrawl


Jed S. Rakoff

Date Filed

May 25, 2011

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