Madoff Victims Can Appeal Ruling on Paying Claims
The judge overseeing the bankruptcy of Bernard Madoff’s defunct business is allowing investors to immediately appeal his order that lets the liquidator reject years’ worth of fake profit from the fraud when calculating victims’ claims for repayment.
U.S. Bankruptcy Judge Burton Lifland in Manhattan certified his order today, allowing an appeal. His decision, made at the request of both sides, means the victims won’t have to wait until trustee Irving Picard denies a claim and won’t have to first appeal to the federal district court. The appeal will go immediately to the U.S. appeals court in New York.
Read full BusinessWeek article here.