Two recent decisions in the Madoff bankruptcy cases illustrate that the legacy of Bernie Madoff will long survive the man himself.
Bernie Madoff died on April 14, 2021, while incarcerated in the Federal Medical Center in...more
11/9/2023
/ Avoidance ,
Bankruptcy Code ,
Bernie Madoff ,
Capital Markets ,
Clawbacks ,
Commercial Bankruptcy ,
Extraterritoriality Rules ,
Foreign Sovereigns ,
Fraudulent Transfers ,
Ponzi Scheme ,
Safe Harbors ,
Sovereign Immunity ,
Trustees
Recognition of a foreign main proceeding under Chapter 15 of the Bankruptcy Code has “effects” under Section 1520 that are automatic and powerful, including application of the automatic stay of Section 362 and the...more
In December 2013, the Second Circuit ruled that recognition of a foreign proceeding under chapter 15 of the Bankruptcy Code required proof that the debtor in the foreign proceeding also met the eligibility standards to be a...more