Decision Raises Bar to Clawback Claims in Broker-Dealer Liquidations

, New York Law Journal

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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