On March 19, 2012, the day the trial of the lawsuit by Irving Picard, the bankruptcy trustee in the Madoff case, against the owners of the Mets was to begin, the parties reached a settlement of Picard’s claims.  The material terms of the settlement were placed on the record before District Court Judge Jed Rakoff.  [...]

A judge’s ruling that slashed a billion-dollar claim against the owners of the New York Mets three days ago is already being used as a weapon by other defendants in lawsuits brought by the liquidator of Bernard Madoff’s firm. Safra National Bank of New York yesterday asked a bankruptcy judge to dismiss a suit by [...]

In a ruling that could have a far-reaching impact on lawsuits seeking money for Bernard Madoff‘s victims, a federal judge threw out the bulk of claims by a court-appointed trustee who sought to recover about $1 billion from the owners of the New York Mets baseball team. The decision by U.S. District Judge Jed Rakoff [...]