Koch Brothers Seek New Judge for $21.5 Million Madoff Suit
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Koch Industries Inc., the company run by billionaire brothers Charles and David Koch, asked a district judge to review a $21.5 million lawsuit filed against it by the liquidator of Bernard Madoff’s firm.
Madoff trustee Irving Picard sued the company in bankruptcy court in February demanding return of money withdrawn from a feeder fund that invested with Madoff. His suit is similar to Picard’s complaint against the New York Mets owners, which was taken over by U.S. District Judge Jed Rakoff to decide such issues as whether the trustee can recoup money from parties that acted in good faith, Koch Industries said in a filing today in U.S. Bankruptcy Court in Manhattan.