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RBS Beats Direct 2nd Circ. Appeal In Madoff Clawback Case

Law360, New York (May 4, 2017, 5:53 PM EDT) -- The Royal Bank of Scotland on Thursday dodged facing a direct Second Circuit appeal in a $22 million Bernie Madoff Ponzi scheme clawback case, as a New York bankruptcy judge ruled that the international comity issues at hand do not necessitate a direct appeal.

U.S. Bankruptcy Judge Stuart M. Bernstein rewarded RBS, formerly known as ABN Amro Bank, for being the only foreign investor out of 87 that dismissed allegations brought by the trustee for Bernard L. Madoff Investment Securities LLC to refuse to certify the...
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