Banks Back Bid Against Cert In Madoff Trustee Suit

Law360, Los Angeles (June 10, 2014, 8:06 PM EDT) -- A group of banks has joined together to ask the U.S. Supreme Court not to hear a bid by the liquidation trustee for Bernie Madoff’s investment group to sue the banks for billions of dollars for what he says is their complicity in Madoff’s Ponzi scheme, according to a brief filed Tuesday.

HSBC Bank PLC, UBS AG, UniCredit SpA and others banded together to fend off Supreme Court scrutiny of a June 2013 decision by the Second Circuit that found that the trustee, Irving H. Picard,...
To view the full article, register now.