The trustee in the Bernard Madoff case, Irving Picard, wants another opportunity to sue defendants including Credit Suisse Group AG (ADR) (NYSE:CS), Royal Bank of Canada (NYSE:RY) (TSE:RY) and Credit Agricole SA (EPA:ACA) (OTCMKTS:CRARY).
Citing two rulings handed down by the U.S. District Court in Manhattan, Picard is seeking another chance for himself and his team of lawyers to re-sue the banks.
Legal landscape substantially altered
Bernard Madoff, one of the most notorious financial criminals in living memory, orchestrated a Ponzi scheme in which investors lost over $17 billion. He was sentenced to 150 years in prison in June 2009.
The trustee winding down Bernard Madoff’s investment firm said two rulings handed...
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