Disclosure in matrimonial actions is a matter of public policy.1 Parties are required to present, inter alia, documents indicative of their financial holdings, such as, institutionally generated portfolio statements whose accuracy and reliability are typically never challenged. In 1991, the First Department, in Elkaim v. Elkaim,2 broke critical evidentiary ground by allowing courts to take judicial notice of institutionally generated financial statements as an exception to the hearsay rule.
The Appellate Division stated that their “authenticity cannot be seriously challenged” and appear “patently trustworthy as to be self-authenticating” because their “format conform[s] to the type of statements with which banks customarily supply their customers on a monthly basis for the purpose of advising them of deposits, withdrawals and balances.” The victims of Bernard Madoff received such institutionally formatted statements, albeit criminally fraudulent, on a monthly basis for approximately two decades.
This content has been archived.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
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]
