News & Analysis as of

Foreign Entities Bernie Madoff

Shumaker, Loop & Kendrick, LLP

Client Alert: Madoff: Insolvency Laws Without Borders

On February 25, 2019, the U.S. Court of Appeals (2nd Circuit) ruled that the trustee in the Chapter 11 case for Madoff Investment Securities, LLC could use the U.S. Bankruptcy Code to recover payments made between foreign...more

Kramer Levin Naftalis & Frankel LLP

Second Circuit Confirms Madoff Trustee’s Ability to Recover Foreign Transfers

The Bottom Line - In vacating judgments from both the District Court and the Bankruptcy Court of the Southern District of New York, the Second Circuit held, in In re Picard, 917 F.3d 85 (2d Cir. 2019), that the trustee...more

A&O Shearman

The Reach of Avoidance – Second Circuit Court of Appeals Holds in Madoff that Bankruptcy Code Can Be Used to Recover Subsequent...

A&O Shearman on

On February 25, 2019, the United States Court of Appeals for the Second Circuit issued a decision holding that a trustee is not barred by either the presumption against extraterritoriality or by international comity...more

Orrick, Herrington & Sutcliffe LLP

Update To Madoff

Following our post on the district court’s extraterritoriality decision, the bankruptcy court dismissed the actions against several defendants on the grounds that the presumption against extraterritoriality and international...more

Latham & Watkins LLP

Madoff Bankruptcy Decision Offers Protection for Foreign Investors

Latham & Watkins LLP on

In re Madoff Securities Extends Morrison Framework to Prevent Avoidance of Purely Foreign Transfers under SIPA and the Bankruptcy Code - Applying the U.S. Supreme Court’s landmark decision in Morrison v. National...more

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