The high court left in place a December 2014 ruling by the New York-based 2nd U.S. Circuit Court of Appeals, which said federal bankruptcy law did not let the trustee Irving Picard recoup a variety of payments that Bernard L. Madoff Investment Securities LLC made to some customers more than two years before the firm collapsed on Dec. 11, 2008.
The decision does not affect the $10.69 billion that Picard has recouped for former Madoff customers, who lost about $17.5 billion of principal.
‘Enforcement 40’ for 2020
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