Pursuits
Madoff, Ener1, Dynegy, Hostess, PMI, Syms, Shaw: Bankruptcy
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The trustee liquidating Bernard L. Madoff Investment Securities Inc. filed his brief this week opposing dismissal of lawsuits against more than 80 customers who took more out of the Ponzi scheme than they invested. The dispute will be decided by U.S. District Judge Jed Rakoff in a test case called Picard v. Hein.
In late November, Rakoff removed the suits from bankruptcy court. The customers, all represented by New York lawyer Carole Neville, filed papers early this month arguing for dismissal. Trustee Irving Picard filed his answering brief on Jan. 25.