Madoff Clawback Suits Must Stay In Bankruptcy Court

By Juan Carlos Rodriguez (January 7, 2013, 7:53 PM EST) -- The New York federal judge overseeing Bernard Madoff litigation said Friday that more than 300 defendants in clawback suits, including Barclays Bank SA, can't remove the actions from bankruptcy court because a U.S. Supreme Court ruling allows bankruptcy courts to make recommendations that then go to a district court for review.

The defendants, which include Barclays, Credit Suisse AG and ABN AMRO Fund Services (Isle of Man) Nominees Ltd., had argued that the high court's Stern v. Marshall decision precluded the cases from being heard in bankruptcy court and won a temporary reprieve in April when U.S. District Judge Jed S....

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