United States Second Circuit

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In re: Bernard L. Madoff Investment Securities LLC, 12-410

Trustee's denial of claims against Bernard L. Madoff Investment Securities LLC (BLMIS) was proper where claimants do not qualify as BLMIS "customers" under the Securities Investor Protection Act because plaintiffs did not invest directly with BLMIS but instead invested in two limited partnerships, which in turn invested in two hedge funds, who invested the pooled capital obtained from their investors with BLMIS through securities accounts maintained only in the funds' names.

Appellate Information

  • Decided 02/22/2013
  • Published 02/22/2013

Judges

  • RAGGI

Court

  • United States Second Circuit

Counsel