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Seyfarth Shaw LLP | USA | 13 Sep 2011

Second Circuit adopts net investment method to determine net equity in Madoff bankruptcy case

On August 16, 2011, the Second Circuit held that Irving H. Picard, the Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC ("Trustee"), utilized the correct methodology to determine the "net equity" of each Madoff investor under the Securities Investor Protection Act ("SIPA").

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