Madoff Trustee Urges 2nd Circ. To Block $410M Deal

Law360, New York (August 8, 2013, 1:46 PM EDT) -- The bankruptcy trustee of Bernard L. Madoff's investment firm on Wednesday again railed at the $410 million settlement between New York state and Madoff feeder fund manager J. Ezra Merkin, telling the Second Circuit the deal makes an end run around the liquidation process.

Irving Picard told the appeals court that the bankruptcy code and the Securities Investor Protection Act prevent interference with his recovery action by any other actions that will cause immediate economic harm to the Madoff estate and relate to the same issues...
To view the full article, register now.

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.