Judge Won't Toss $42M Madoff Feeder Clawback Suit

Law360, New York (October 12, 2012, 5:57 PM EDT) -- The trustee liquidating Bernard Madoff's investment company won a battle Thursday when a New York bankruptcy judge refused to dismiss his $42.1 million clawback suit against the Taiwanese Bureau of Labor Insurance, saying the agency intentionally invested in a Madoff feeder fund.

U.S. Bankruptcy Judge Burton R. Lifland denied the motion to dismiss filed by Irving H. Picard, the Securities Investor Protection Act trustee winding down Bernard L. Madoff Investment Securities LLC on behalf of the massive Ponzi scheme's victims. The judge found that the Taiwanese...
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