The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 10 hours ago
Dec 8 2011 | 2:21am ET
The court-appointed trustee in the Bernard Madoff Ponzi scheme case has appealed a judge's dismissal of a $19 billion claim against JPMorgan Chase.
U.S. District Judge Colleen McMahon last month junked the suit, ruling that, when dealing with third parties, Irving Picard represents Bernard L. Madoff Investment Securities, and not Madoff's victims. Only the fraudster's victims—his creditors—can sue third parties.
Picard argued that such a reading of the law could seriously restrict the amount he'll be able to recover from the $65 billion fraud—by as much as $40 billion.