Monday, 1 September 2014
Last updated 2 days ago
Nov 1 2013 | 1:27pm ET
The trustee in the Bernard Madoff case has won a rare victory in his battle to recoup money from banks.
U.S. District Judge Jed Rakoff, who earlier ruled that Irving Picard did not have standing to sue third-parties allegedly involved in the fraud, now says that Picard can go after banks that got money from Madoff feeder funds. Picard hopes to seek about $8 billion from 50 banks and financial institutions.
In a ruling released Wednesday, and which clarifies a December ruling, Rakoff said that forcing Picard to sue each entity that transferred funds to banks individually would be took expensive and "could cause bankruptcy proceedings to drag on unnecessarily for years, wasting court resources as well as creating unnecessary uncertainty."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...