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A Manhattan bankruptcy judge rejected arguments by three “net winners” in the Madoff Ponzi scheme on Friday that he lost authority to hear a $2.8 million clawback action against them when they dropped their own claim against the bankruptcy estate.
The former head of Sadis & Goldberg LLP’s tax and trusts and estates groups was sentenced to just over three years in prison Friday for cheating a dead client’s estate out of $3.7 million through a bogus charity and lying about his income to the IRS.
The New York federal judge who presided over last year’s college basketball corruption trial has criticized the defense team's focus on the fairness of NCAA rules that prevent college players from being paid, saying in a new opinion Thursday that the “amateurism and recruitment rules were not on trial” and expert testimony on the issue could have led the jury to rule on “perceived economic unfairness.”
In an effort to streamline dual bankruptcy proceedings for Mexican oil rig company Perforadora Oro Negro in its home country and the U.S., a domestic mediator will join negotiations between the company and its creditors in a jack-up rig seizure dispute, a U.S. bankruptcy judge said.
Orrick Herrington & Sutcliffe LLP has announced that a former tax partner at Norton Rose Fulbright with a focus on renewable energy joined the firm in its New York office.