Attorneys for investors whom a bankruptcy trustee says profited from Bernard Madoff's multi-billion dollar Ponzi scheme argued yesterday before a panel of federal judges that the trustee's method of adjudicating claims is flawed. Karen E. Wagner, a lawyer for Sterling Equities Associates, an owner of the New York Mets, argued that payouts should be based on the last statement investors received before Mr. Madoff was arrested, while David J. Sheehan, who represents trustee Irving H. Picard, defended the methodology.
March 04, 2011 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Attorneys for investors whom a bankruptcy trustee says profited from Bernard Madoff’s multi-billion dollar Ponzi scheme argued yesterday before a panel of federal judges that the trustee’s method of adjudicating claims is flawed.
Editor’s Note: This article has been updated to reflect a Correction.
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