Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Southern District Judge Jed S. Rakoff has narrowed the $1 billion lawsuit brought by bankruptcy trustee Irving Picard as he seeks to recover money that the owners of the New York Mets received in the Bernard L. Madoff Ponzi scheme. In an 18-page opinion yesterday, the judge dismissed all claims against Fred Wilpon and Saul Katz save those alleging actual fraud and equitable subordination. Thrown out were claims under New York law and “all claims predicated in principles of preference or constructive fraud under the Bankruptcy Code.” The judge also narrowed the standard of recovery under the remaining claims for Mr. Picard of Baker & Hostetler, who is charged with liquidating Bernard L. Madoff Investment Securities.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.