Madoff Trustee Loses Bid To Block $410M Deal

Law360, Los Angeles (April 15, 2013, 8:04 PM EDT) -- A New York federal judge on Monday dismissed the Madoff bankruptcy trustee’s efforts to derail a $410 million settlement between New York state and Madoff feeder fund manager J. Ezra Merkin, ruling that the trustee waited too long to intervene in the bankruptcy lawsuit.

U.S. District Judge Jed S. Rakoff not only dismissed an injunction motion requested by Irving Picard, the trustee in charge of recovering money for Madoff’s direct victims, but dismissed the entirety of his lawsuit. He refuted Picard's contention that despite the three...
To view the full article, register now.




Case Information

Case Title

Irving H. Picard v. Eric T. Schneiderman et al

Case Number



New York Southern

Nature of Suit

Bankruptcy Withdrawal


Jed S. Rakoff

Date Filed

September 5, 2012

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.