Securities Investor Protection Corporation v. Bernard L. Madoff Investment Securities LLC
E678522
Securities Investor Protection Corporation v. Bernard L. Madoff Investment Securities LLC is a landmark legal proceeding arising from Bernie Madoff’s Ponzi scheme, focused on recovering and distributing assets to defrauded investors through the SIPC liquidation process.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
SIPC liquidation proceeding
ⓘ
bankruptcy-related proceeding ⓘ legal case ⓘ |
| aimsTo |
maximize recovery for defrauded investors
ⓘ
protect customers of failed broker-dealer ⓘ |
| appointedTrustee | Irving H. Picard NERFINISHED ⓘ |
| caseType |
civil proceeding
ⓘ
insolvency-related proceeding ⓘ |
| characterizedAs |
landmark SIPC liquidation
ⓘ
major financial fraud recovery case ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| hasDefendant | Bernard L. Madoff Investment Securities LLC NERFINISHED ⓘ |
| hasPlaintiff | Securities Investor Protection Corporation NERFINISHED ⓘ |
| heardByCourt |
United States Bankruptcy Court for the Southern District of New York
NERFINISHED
ⓘ
United States District Court for the Southern District of New York NERFINISHED ⓘ |
| impact |
influenced interpretation of Securities Investor Protection Act
ⓘ
set precedent for handling Ponzi scheme liquidations under SIPA ⓘ |
| initiatedBy | Securities Investor Protection Corporation NERFINISHED ⓘ |
| involvesAgency | Securities Investor Protection Corporation NERFINISHED ⓘ |
| involvesEntity | Bernard L. Madoff Investment Securities LLC NERFINISHED ⓘ |
| involvesLaw |
U.S. bankruptcy law
ⓘ
fraudulent transfer law ⓘ |
| involvesPerson | Bernard L. Madoff NERFINISHED ⓘ |
| involvesStakeholders |
defrauded investors
ⓘ
feeder funds ⓘ financial institutions ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
United States federal courts NERFINISHED ⓘ |
| legalBasis | Securities Investor Protection Act of 1970 NERFINISHED ⓘ |
| legalIssue |
avoidance of fraudulent transfers
ⓘ
clawback of fictitious profits ⓘ definition of net equity for customer claims ⓘ priority of customer claims ⓘ |
| location | New York City ⓘ |
| relatedProceeding | In re Bernard L. Madoff Investment Securities LLC NERFINISHED ⓘ |
| relatedTo |
SIPC advances to customers
ⓘ
customer claims determination process ⓘ |
| relatesTo |
Bernard L. Madoff Ponzi scheme
ⓘ
Ponzi scheme ⓘ |
| startDate | 2008 ⓘ |
| status | long-running liquidation proceeding ⓘ |
| subjectMatter |
distribution of assets to defrauded investors
ⓘ
liquidation of broker-dealer ⓘ recovery of customer property ⓘ |
| triggerEvent | arrest of Bernard L. Madoff in December 2008 ⓘ |
| trusteeRole | SIPC trustee for liquidation ⓘ |
| usesProcedure | SIPC liquidation process ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
Madoff trustee Irving Picard
→
notableCase
→
Securities Investor Protection Corporation v. Bernard L. Madoff Investment Securities LLC
ⓘ
subject surface form:
Irving Picard