2nd Circ. Says Picard Can’t Claw Back from Madoff Customers

Loeb & Loeb partners Gregory Schwed and Daniel Besikof are named as counsel for good-faith customers of Bernard Madoff in connection with the 2nd Circuit’s decision not to allow the Madoff trustee to claw back approximately $1.6 billion withdrawn from the Madoff brokerage firm. 

Schwed is quoted on the impact of the ruling.
 
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