Madoff victims sue to compel his bankruptcy
Victims of a fraud to which former financial advisor Bernard Madoff pleaded guilty last month have filed a request in US Federal court to compel his bankruptcy under Chapter 7 of the US bankruptcy law. This would enable all Madoff's assets to be used toward paying victims of the fraud. The request was, however, originally opposed by government agencies including the Securities and Exchange Commission.
Read more at www.bloomberg.com.comments powered by Disqus