In the latest turn in the fraudulent conveyance litigation arising out of the liquidation of Bernie Madoff’s securities firm, on March 14, 2016, Judge Bernstein of the U.S. Bankruptcy Court for the Southern District of New York issued a decision on motions to dismiss the intentional fraudulent transfer claims, constructive fraudulent transfer claims, and state-law fraudulent transfer claims brought by Irving H. Picard, the trustee appointed for Bernard L. Madoff Investment Securities LLC, against defendants Legacy Capital Ltd and Khronos LLC. Picard v. Legacy Capital Ltd. (In re BLMIS), No. 08-99000(SMB), Adv. Proc. No. 08–01789 (SMB), Adv. P. No. 10–05286 (SMB), 2016 WL 943773 (Bankr. S.D.N.Y. Mar. 14, 2016).
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