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Fraudulent Transfers

New York Decision Shows that Merit Management Is a Dead Letter

The expansive definition of a ‘financial institution’ allows fraudulent transfers to be structured so that no one will ever be held liable.

Beware: Closing a Case Quickly Can Preclude Filing New Avoidance Actions

Judge Thuma describes nonstatutory exceptions to the statutes of limitations in Sections 546(a) and 550(f).

Denial of a Claim Doesn’t Divest the Bankruptcy Court of Final Adjudicatory Power

More important law from Madoff: Filing a claim waives the right to a jury trial in district court even if the claim is denied or withdrawn, district judge rules.

Routine Withdrawals from a Bank Account Aren’t ‘Transfers,’ Eleventh Circuit Says

Receiver barred from bringing aiding and abetting claims if the company was dominated by fraudsters.
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Supreme Court Allows the Madoff Trustee to Sue Foreign Subsequent Transferees

The denial of ‘cert’ aids the Madoff trustee’s quest to recover 100% of defrauded customers’ cash losses.
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BAP Didn’t See Barnhill as Prescribing the Date of Transfer from a Retirement Account

The First Circuit BAP evidently believes that a transfer occurred, even though an ordinary check wasn’t cashed.
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Madoff Trustee Granted Another Direct Appeal to the Second Circuit

Overturning District Judge Rakoff a second time will aid the Madoff trustee’s quest to recover 100% of defrauded customers’ net equity claims.
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