Supreme Court rebuffs investors’ bid to block Madoff trustee lawsuits

Supreme Court rebuffs investors’ bid to block Madoff trustee lawsuits

The Supreme Court is leaving in place a ruling that allows the trustee recovering money for investors in the Bernard Madoff Ponzi scheme to pursue more than $4 billion that went to overseas investors. The justices turned away an appeal by investors led by HSBC who said trustee Irving Picard was impermissibly trying to apply US bankruptcy law to foreign transactions.

KCooper
KCooper
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