Madoff Trustee Wants 2nd Circ. Review of Merkin Decision

Law360, Los Angeles (September 5, 2014, 10:09 PM EDT) -- Bernie Madoff's liquidating trustee said Friday he planned to appeal a New York bankruptcy judge's decision gutting his $564 million fraudulent transfer suit against Madoff feeder fund manager J. Ezra Merkin, asking the court for permission to seek Second Circuit review.

Bernard L. Madoff Investment Securities LLC trustee Irving Picard said he wanted the Second Circuit to decide whether he needed to plead that defendants in fraudulent transfer suits actually knew Madoff was committing fraud in order to survive safe harbor affirmative defenses.

U.S. Bankruptcy Judge Stuart M. Bernstein dismissed nine of Picard's 13 counts against Merkin last month, and Picard...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!