A Manhattan federal judge on Tuesday blocked an attempt by the trustee of the Bernie Madoff fund to claw back, ahead of trial, $86 million in allegedly fraudulent transfers an investor had received as part of Madoff’s Ponzi scheme.

U.S. Bankruptcy Judge Stuart M. Bernstein of the Southern District of New York nixed trustee Irving H. Picard’s motion for summary judgment on his fraudulent transfer claim to recover transfers from Legacy Capital Ltd.’s account with Bernard L. Madoff Investment Securities that were made within two years of its founder being arrested for securities fraud in 2008.

This content has been archived.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 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]