United States Second Circuit
In re: Bernard L. Madoff Investment Securities, 12-2557
In this case, the trustee for debtor Bernard L. Madoff Investment Securities (BLMIS), in an attempt to recover or "clawback" money paid out by BLMIS, sued hundreds of BLMIS customers who withdrew the illegal payments from their accounts and profited from the underlying ponzi scheme. Dismissal is affirmed, where the payments BLMIS made to its customers are the type of securities-related payments that are shielded by Bankruptcy Code section 546(e) from clawback.
Appellate Information
- Decided 12/08/2014
- Published 12/08/2014
Judges
- Parker
Court
- United States Second Circuit