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Supreme Court Won’t Hear Clawback Case in Blow to Madoff Trustee

Loeb & Loeb partner Daniel Besikof is quoted on the U.S. Supreme Court’s ruling to uphold a lower court’s decision to block the claw-back effort of Irving Picard, the court-appointed trustee unwinding Bernard Madoff’s assets. Besikof, one of several attorneys who served as counsel for good-faith customers of Bernard Madoff, said the decision “means that about 1,600 of Madoff's innocent victims — many of whom were wiped out by Madoff's fraud — need no longer worry about having to forfeit to Mr. Picard nearly $2 billion in redemptions they received from Madoff's brokerage as much as a dozen years ago.”

Click here to read the article on the New York Post website.