The expansive definition of a ‘financial institution’ allows fraudulent transfers to be structured so that no one will ever be held liable.
Judge Thuma describes nonstatutory exceptions to the statutes of limitations in Sections 546(a) and 550(f).
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law from Madoff: Filing a claim waives the right to a jury trial in district court even if the claim is denied or withdrawn, district judge rules.
Receiver barred from bringing aiding and abetting claims if the company was dominated by fraudsters.
The denial of ‘cert’ aids the Madoff trustee’s quest to recover 100% of defrauded customers’ cash losses.
The First Circuit BAP evidently believes that a transfer occurred, even though an ordinary check wasn’t cashed.
Overturning District Judge Rakoff a second time will aid the Madoff trustee’s quest to recover 100% of defrauded customers’ net equity claims.