Irving Picard, the trustee overseeing the liquidation of Bernard L. Madoff Investment Securites (“BLMIS”), has filed an amended complaint (the “Amended Complaint”) that seeks to buttress his allegations against Fred Wilpon and Saul Katz, the owners of the New


Continue Reading Madoff Trustee’s Amended Complaint – More Bad Stuff ’bout the Mets (Owners)

Judge Burton Lifland, the bankruptcy judge overseeing the liquidation proceedings of Bernard L. Madoff Investment Securities LLC (“BLMIS”) made a shrewd decision last week in appointing, on his own initiative, former Governor Mario Cuomo to act as mediator in


Continue Reading Meet the Mess, Cont’d — Former Governor Cuomo Asked to Mediate Madoff Trustee’s Lawsuit Against Mets Owners

The ongoing debate about the treatment of cleanup orders in bankruptcy looks to be getting a lot more interesting in the Second Circuit.

In a decision (.pdf) that could signal important precedent in the making, the United States District Court


Continue Reading District Court Takes on Responsibility of Defining Dischargeable Environmental “Claims”