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Paul Weiss Partner May Sue Ex-Wife Over Madoff Funds

A New York law firm partner who said he paid his ex-wife $2.7 million of the purported value of his account with Bernard Madoff can sue her to revise their 2006 agreement because of the Ponzi scheme, an appeals court ruled.

Today’s decision overturns a lower-court ruling dismissing the suit by Steven Simkin, chairman of Paul, Weiss, Rifkind, Wharton & Garrison LLP’s real estate department. Simkin sued his former wife, Laura Blank, in state court in Manhattan in February 2009 after Madoff’s fraud became public.