Bloomberg News

Madoff Judge Stops Cayman Lawsuit Against Trustee Picard

October 13, 2011

Oct. 13 (Bloomberg) -- A lawsuit against the liquidator of Bernard Madoff’s firm in the Cayman Islands was stopped by a U.S. bankruptcy judge who said Maxam Absolute Return Fund Ltd.’s action was “a clear attack on this court’s exclusive jurisdiction and a blatant attempt to hijack the key issues to another court,” according to a court filing.

Trustee Irving Picard sued Maxam for about $100 million of money taken out of the Ponzi scheme.

To contact the reporter on this story: Linda Sandler in New York at

To contact the editor responsible for this story: Fred Strasser at

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