- 11 U.S.C.
Picard v. JPMorgan Chase & Co.
Nov
01
2011
Ruling
Common law claims against entities that benefitted from Madoff Ponzi scheme were not property of the estate but of defrauded creditors.
Procedural posture
Plaintiff liquidation trustee sued defendants, banks and investment funds, for claims that included aiding and abetting fraud, breach of fiduciary duty, conversion, and unjust enrichment. Defendants moved to dismiss for lack of standing.
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Court
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