Bloomberg News

Connecticut General Seeks New Judge for Madoff Trustee Suit

October 12, 2011

Oct. 12 (Bloomberg) -- Connecticut General Life Insurance Co. asked a district judge to review a $15 million lawsuit by the liquidator of Bernard Madoff’s firm, saying the suit was one of many against innocent investors in the Ponzi scheme that demands “vast sums of money” that the Madoff estate isn’t legally entitled to.

The insurer cited recent rulings by the U.S. Supreme Court and district courts in support of its argument that trustee Irving Picard’s clawback suits raise issues that are beyond the power of a bankruptcy judge to decide, according to a court filing today.

To contact the editor responsible for this story: John Pickering at jpickering@bloomberg.net


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