Picard May Be Betting The Farm In Calif. AG Fight

Law360, New York (June 12, 2012, 9:34 PM EDT) -- Bernard L. Madoff Investment Securities LLC liquidating trustee Irving Picard’s fight with California Attorney General Kamala Harris over her right to sue a Madoff-related entity represents the biggest territory clash in the case so far — and a major test for the trustee’s dependence on the automatic bankruptcy stay, experts said.

Picard, who stepped up his bid last week to get Harris' California suit against Madoff feeder fund manager Stanley Chais dismissed on the grounds that it's barred by the automatic stay, faces an uphill battle...
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