Defense of Victims of Madoff Ponzi Scheme in Fraudulent Transfer Litigation

Represented defendants in approximately a dozen adversary proceedings, facing approximately $100 million in potential fraudulent transfer exposure. Loeb led in litigating numerous important issues, including on appeal to the Second Circuit, and obtained an extremely favorable ruling from the Second Circuit expanding substantially the scope of the Section 546(e) securities “safe harbor,” which saved tens of millions of dollars for Loeb’s clients and their families and potentially billions of dollars for other defendants of the Madoff trustee’s claims. Loeb also assisted in defeating a petition for certiorari filed by Madoff trustee seeking to challenge that decision at the Supreme Court.