By Rick Archer (May 3, 2022, 4:01 PM EDT) — A New York federal judge has ruled that a 2021 Second Circuit decision allows the trustee overseeing the liquidation of Bernie Madoff’s investment fund to renew his attempt to claw back $265 million from financial institutions that benefited from the Ponzi scheme.
In a ruling issued Monday U.S. District Court Judge Colleen McMahon said trustee Irving Picard could amend and refile his suit against ABN Amro Bank Ltd. to meet the “good faith” standards set by the Second Circuit after a bankruptcy judge dismissed his original complaint.
Picard, who was appointed liquidation trustee of Bernard L. Madoff Investment Securities LLC in…
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