Madoff Trustee To Appeal Two-Year Clawback Limit

Law360, New York (June 22, 2012, 9:48 PM EDT) -- The trustee liquidating Bernard L. Madoff Investment Securities LLC on Wednesday said he will appeal to the Second Circuit a series of rulings by a district judge that have slashed by billions of dollars what is available for victims to recover.

One of the most important areas of the appeal will focus on U.S. District Judge Jed S. Rakoff’s September ruling in trustee Irving Picard’s case against the owners of the New York Mets, which limited the time for which Picard could seek clawbacks for phony...
To view the full article, register now.