Fairfield Sentry Can't Undo Sale Of $230M Madoff Claim

Law360, New York (January 10, 2013, 7:22 PM EST) -- A New York bankruptcy judge on Thursday refused to allow the trustee for Bernard L. Madoff feeder fund Fairfield Sentry Ltd. to invalidate the sale of a $230 million claim in the Madoff liquidation that later spiked in value.

In his decision, U.S. Bankruptcy Judge Burton R. Lifland blasted Sentry trustee Kenneth Krys’ “Hail Mary” attempt to undo the sale to Farnum Place LLC following a multibillion settlement in the Bernard L. Madoff Investment Securities LLC liquidation just three days after the sale was executed, causing...
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