Foreign liquidators of the Fairfield group of investment funds, which were created to feed overseas investments into Bernard L. Madoff Investment Securities, can pursue a slew of lawsuits aiming to recover nearly $6 billion for investors in U.S. Bankruptcy Court rather than in the state Supreme Court’s Commercial Division, a bankruptcy judge has ruled.
Southern District Bankruptcy Judge Burton R. Lifland said that it would be most efficient for him to handle the suits because of his familiarity with the extensive litigation surrounding the Madoff funds, which turned out to be a massive Ponzi scheme.
