In a decision yesterday, Judge Marrero denied a motion from the trustee for Bernard Madoff’s investment firm to declare void, and undo a preliminary partial settlement, in the “Anwar” class action against Fairfield Greenwich, a Madoff feeder fund.  Judge Marrero ruled that the Anwar plaintiffs were not customers or creditors of Madoff’s firm, but third parties with claims against Fairfield and other third parties. Judge Marrero first rejected the trustee’s argument that claims of the Anwar plaintiffs should be stayed on the ground that they would limit the recoverable assets of the debtor firm, referred to as “BLMIS”:
Continue Reading Judge Marrero Denies Madoff Trustee’s Motion to Void Class Action Against Feeder Fund