Securities Investor Protection Corporation v. Bernard L. Madoff Inv. Securities LLC, 480 B.R. 501 (SDNY 2012)
Oct 11, 2012OUTCOME: Motion to dismiss denied on all grounds.
Trustee appointed under the Securities Investor Protection Act (SIPA) for bankrupt securities company whose principal had engaged in massive Ponzi scheme brought adversary proceeding to recover from th ... e Taiwanese Bureau of Labor Insurance (BLI), as subsequent transferee on allegedly fraudulent transfer made in furtherance of this scheme. The BLI moved to dismiss on variety of grounds, including its sovereign immunity, extraterritoriality, avoidance of initial transfers, and personal jurisdiction.
