Showing posts with label Appeals Ruling. Show all posts
Showing posts with label Appeals Ruling. Show all posts

Wednesday, October 12, 2011

Irving Picard Won't Go Away, Appeals US District Court Judges Ruling..


Douche bag 
The liquidator of Bernard Madoff’s firm assailed a judge’s ruling in a $1 billion lawsuit against the New York Mets owners, saying it “arbitrarily” gave some of the con man’s investors fictitious profits that “all customers were previously denied” by a higher court ruling.

Trustee Irving Picard made the statements in a filing in U.S. District Court in Manhattan. Picard also asked U.S. District Judge Jed Rakoff to clear the way for an appeal of his ruling.

Rakoff last month cut Picard’s suit against the baseball team’s owners by two-thirds, saying he could try to reclaim only two years of withdrawals from the Ponzi scheme. The ruling, which would allow Fred Wilpon and Saul Katz to keep purported profits resulting from Madoff’s “machinations,” was “in direct contravention” of an appeals court ruling that ruled out account statements as a basis for compensating Madoff investors for losses, Picard said in his Oct. 7 filing.

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