Bid For Madoff Involuntary Bankruptcy Gets Blocked

Law360, New York (April 20, 2009, 12:00 AM EDT) -- The federal judge overseeing criminal proceedings against Bernard L. Madoff signed a restraining order Monday, blocking an attempt by investors in the fraudster's firm to push him into involuntary bankruptcy, although questions remain about who will be in charge of the liquidation of his assets.

Judge Denny Chin of the U.S. District Court for the Southern District of New York's order prevents Madoff and his wife, Ruth, from selling any of their property subject to a possible confiscation or liquidation by the government. The order extends...
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