Decision Raises Bar to Clawback Claims in Broker-Dealer Liquidations

, New York Law Journal

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David J. Onorato and David Y. Livhsiz of Freshfields Bruckhaus Deringer write about the April 27, 2014 opinion in 'In re Madoff Securities', which held that in a SIPA proceeding, the transferees' good faith is measured by a subjective willful blindness standard and that the trustee must allege facts to plausibly support the inference that the defendant took the challenged transfers with a lack of good faith.

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