Monday, December 31, 2012

N.Y. Wins U.S. Court Review of $415 Million Madoff Fight

New York Attorney General Eric Schneiderman persuaded a federal judge to decide a dispute with the Bernard Madoff brokerage trustee over distributing a $415 million settlement with a Ponzi scheme investor to victims of the fraud, according to the good folks at Bloomberg.

U.S. District Judge Jed Rakoff in Manhattan said he was convinced the case, started in bankruptcy court by trustee Irving Picard, requires a ruling by a higher court “after carefully considering the parties’ written submissions and oral argument,” according to an order filed today…..

Read all about it at

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