by Jack Tracy, and Richard Goldman
Debtwire’s Head of Legal Analysis Jack Tracy and Legal Analyst Richard Goldman published a special report examining a recent decision in the ongoing liquidation of Bernard L. Madoff Investment Securities (BLMIS).
That decision, issued by Southern District of New York Bankruptcy Court Judge Stuart Bernstein, dismissed BLMIS liquidating trustee Irving Picard’s attempts to recover proceeds of subsequent transfers made in furtherance of fraudulent conveyances that occurred outside of the United States.
In this special report, Jack and Richard unpack Judge Bernstein’s 93-page decision, examining the factual and legal bases that led to the court’s ultimate ruling. Jack and Richard also compare Judge Bernstein’s decision to those issued by fellow New York bankruptcy court judges in LyondellBasell’s long-running fraudco litigation, which did not reach the same conclusion.
Click here to access the full report.