Investors who were sued by the trustee overseeing Bernie Madoff’s Ponzi scheme liquidation argued for the case to be moved from bankruptcy court to a federal district court.
A judge in the U.S. Bankruptcy Court for the Southern District of New York is currently overseeing the trustee’s lawsuit to recover from the defendants $49.5 million of allegedly ill-gotten profits from the Ponzi scheme.
The bankruptcy judge doesn’t have authority to enter a judgment, five of the defendants said Tuesday in a court filing. They include Khronos Liquid Opportunities Fund Ltd., Prince Resources Ltd., Prince Capital Partners LLC, as well as ...