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WEDNESDAY, NOVEMBER 25, 2009
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Brits Hit Court to Battle Yanks for Madoff Assets

UK liquidators have already seized $235K Aston Martin

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(Newser) – The Madoff liquidators are turning on each other, reports the Times of London. The trustees handling the London arm of the Ponzi schemer's imploded business recently seized several American assets, including a $235,000 vintage Aston Martin, that were acquired with London money. UK liquidators will argue tomorrow in a New York court for the continued right to do so; they face US trustee Irving Picard and dozens of Madoff victims who want asset seizures left to Picard, regardless of where they are.

A trustee has dug up credit card bills and other personal records he says show that the disgraced financier Bernard Madoff and his family were feasting off investors' money.
A trustee has dug up credit card bills and other personal records he says show that the disgraced financier Bernard Madoff and his family were feasting off investors' money.   (AP Photo/David Karp, file)
In this Jan. 14, 2009 file photo, besieged money manager Bernard Madoff, accused of masterminding a $50 billion Ponzi scheme, arrives at Federal Court in New York.
In this Jan. 14, 2009 file photo, besieged money manager Bernard Madoff, accused of masterminding a $50 billion Ponzi scheme, arrives at Federal Court in New York.   (AP Photo/Stuart Ramson)
Irving Picard, the trustee in charge of untangling the mess brought on by the Madoff scandal told investors Friday, Feb. 20, 2009, is facing a court battle with his London counterpart.
Irving Picard, the trustee in charge of untangling the mess brought on by the Madoff scandal told investors Friday, Feb. 20, 2009, is facing a court battle with his London counterpart.   (AP Photo/Stuart Ramson, file)
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Observer
Jun 8, 09 8:27 AM CDT
Watch the vulture lawyers tear each other apart now. Reply
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SPH
Jun 8, 09 2:29 PM CDT
Win or loss, the lawyers get paid first.....
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