Kramer Levin's Madoff Task Force, headed by Corporate Restructuring and Bankruptcy partner Philip Bentley, represents a large group of Madoff investors, including both direct investors and those who invested through so-called feeder funds. In addition to preparing to defend our clients in the anticipated "clawback" litigation, we have been providing advice on the full gamut of Madoff issues, including tax, Securities Investor Protection Act (SIPA), and other issues. Our Task Force draws on the strengths of many of the firm's practice areas, including our Corporate Restructuring and Bankruptcy, Litigation, Corporate and Tax departments.

Our Madoff work builds on our recent involvement in the Bayou clawback litigation, in which the receiver of the failed Bayou hedge funds sued former investors to recover redemption payments they received before the funds' collapse. We represented 70 former investors -- about half of all Bayou defendants -- and were able to obtain a favorable settlement for our clients prior to the bankruptcy court's entry of summary judgment against many of the remaining defendants.

Our perspective on the Madoff clawback litigation has been widely quoted in the press, including articles in Fortune, The Wall Street Journal, Financial Times, The Times of London, Reuters, Bloomberg and American Lawyer's Am Law Litigation Daily, as well as interviews on ABC, CNBC and National Public Radio. Links to sample articles are provided below, along with a link to a January 7, 2009 article in The Deal  by Philip Bentley, which provides a non-technical overview of the issues likely to arise in the clawback suits.

Earlier this year, Mr. Bentley chaired a conference on Madoff litigation at New York’s Harvard Club, and he has spoken on this subject at a number of other conferences. The Harvard Club conference was profiled in an article in Fortune by senior editor Roger Parloff, entitled “Madoff 101,” which can be accessed via the link provided below.

Should you have any questions, please contact any of the members of our Madoff Task Force listed in the left margin.


Fortune:

http://money.cnn.com/2008/12/19/news/madoff.legal.fortune/index.htm

Am Law Litigation Daily:

http://www.law.com/jsp/tal/digestTAL.jsp?id=1202427311351

Times of London:

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5913819.ece

The Deal:

http://www.thedeal.com/newsweekly/community/legal-battle-looms-for-madoff.php


Fortune ("Madoff 101"):

http://money.cnn.com/2009/02/26/news/newsmakers/parloff_madoff.fortune/index.htm?postversion=2009022612