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.

Documents

Related

Sections

Case Information

Case Title

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


Case Number

1:12-cv-06733

Court

New York Southern

Nature of Suit

Bankruptcy Withdrawal

Judge

Jed S. Rakoff

Date Filed

September 5, 2012

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.