N.Y. Wins U.S. Court Review of $415 Million Madoff Fight
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New York Attorney General Eric Schneiderman persuaded a federal judge to decide a dispute with the Bernard Madoff brokerage trustee over distributing a $415 million settlement with a Ponzi scheme investor to victims of the fraud.
U.S. District Judge Jed Rakoff in Manhattan said he was convinced the case, started in bankruptcy court by trustee Irving Picard, requires a ruling by a higher court “after carefully considering the parties’ written submissions and oral argument,” according to an order filed today.