IN RE BERNARD L. MADOFF INV. SECURITIES LLC.

Docket Nos. 11-5044, 11-5051, 11-5175, 11-5207.

721 F.3d 54 (2013)

In re BERNARD L. MADOFF INVESTMENT SECURITIES LLC. Irving H. Picard, Plaintiff-Appellant, v. JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC, J.P. Morgan Securities Ltd., Defendants-Appellees, and Securities Investor Protection Corporation, Intervenor. In re Bernard L. Madoff Investment Securities LLC, Debtor. Irving H. Picard, Plaintiff-Appellant, and Securities Investor Protection Corporation, Intervenor, UBS Fund Services (Luxembourg) SA, Access International Advisors LLC, Access International Advisors Europes Limited, Access International Advisors Ltd., Access Partners (Suisse) SA, Access Management Luxembourg SA, as represented by its Liquidator Maitre Ferdinand Entringer, fka Access International Advisors Luxembourg SA, Access Partners SA, as represented by its Liquidator Maitre Ferdinand Entringer, Patrick Littaye, Claudine Magon De La Villehuchet, in her capacity as Executrix under the Will of Thierry Magon De La Villehuchet (aka Rene Thierry de la Villehuchet), individually and as the sole beneficiary under the Will Of Thierry Magon De La Villehuchet (aka Rene Thierry de la Villehuchet), aka Claudine De La Villehuchet, Pierre Delandmeter, Theodore Dumbauld, Luxalpha Sica V, as represented by its Liquidators Maitre Alain Rukavina and Paul Laplume, Roger Hartmann, Ralf Shroeter, Rene Egger, Alain Hondequin, Hermann Kranz, Bernard Stiehl, Groupement Financier Ltd., UBS AG, UBS (Luxembourg) SA, Maitre Alain Rukavina, in his capacity as liquidator and representative of Luxalpha Sica V, Paul Laplume, in his capacity as liquidator and representative of Luxalpha Sica V, UBS Third Party Management Company SA, Defendants-Appellees. In re Bernard L. Madoff Investment Securities LLC, Debtor. Irving H. Picard, Plaintiff-Appellant, v. HSBC Bank PLC, HSBC Securities Services (Luxembourg) S.A., HSBC Bank Bermuda Limited, HSBC Fund Services (Luxembourg) S.A., HSBC Private Bank (Suisse) S.A., HSBC Private Banking Holdings (Suisse) S.A., HSBC Bank (Cayman) Limited, HSBC Securities Services (Bermuda) Limited, HSBC Bank USA, N.A., HSBC Institutional Trust Services (Bermuda) Limited, HSBC Securities Services (Ireland) Limited, HSBC Institutional Trust Services (Ireland) Limited, HSBC Holdings PLC, Unicredit S.p.A., Pioneer Alternative Investment Management Limited, Unicredit Bank Austria AG, Alpha Prime Fund Limited, Defendants-Appellees, and Securities Investor Protection Corporation, Intervenor. In re Bernard L. Madoff Investment Securities LLC, Debtor. Irving H. Picard, Plaintiff-Appellant, v. HSBC Bank PLC, HSBC Securities Services (Luxembourg) S.A., HSBC Bank Bermuda Limited, HSBC Private Bank (Suisse) S.A., HSBC Private Banking Holdings (Suisse) S.A., HSBC Bank (Cayman) Limited, HSBC Securities Services (Bermuda) Limited, HSBC Bank USA, N.A., HSBC Institutional Trust Services (Bermuda) Limited, HSBC Securities Services (Ireland) Limited, HSBC Institutional Trust Services (Ireland) Limited, HSBC Holdings PLC, HSBC Fund Services (Luxembourg) S.A., Defendants-Appellees, Securities Investor Protection Corporation, Intervenor.

United States Court of Appeals, Second Circuit.

Decided: June 20, 2013.


Attorney(s) appearing for the Case

Oren J. Warshavsky ( David J. Sheehan , Deborah H. Renner , Lan Hoang , Geoffrey A. North on the brief) Baker & Hostetler LLP, New York, NY, for Plaintiff-Appellant.

Christopher H. Larosa ( Josephine Wang , Kevin H. Bell , on the brief) Securities Investor Protection Corporation, Washington, D.C. for Intervenor Securities Investor Protection Corporation.

John F. Savarese ( Douglas K. Mayer , Stephen R. DiPrima , Emil A. Kleinhaus , Lauren M. Kofke , Jonathon R. La Chapelle on the brief) Wachtell, Lipton, Rosen & Katz, New York, NY, for Defendant-Appellee JPMorgan Chase & Co., et al.

Thomas J. Moloney ( Evan A. Davis , David E. Brodsky , Marla A. Decker , Charles J. Keeley , Jason B. Frasco on the brief) Cleary Gottlieb Steen & Hamilton LLP, New York, NY, for Defendant-Appellee HSBC Bank PLC, et al.

Marco E. Schnabl ( Susan L. Saltzstein , Jeremy A. Berman on the brief) Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY, for Defendants-Appellees Uni-Credit S.p.A. and Pioneer Alternative Investment Management Ltd.

Marshall R. King , Gibson, Dunn & Crutcher LLP, New York, NY, for Defendant-Appellee UBS AG, et al.

Franklin B. Velie ( Jonathan G. Kortmansky , Mitchell C. Stein on the brief) Sullivan & Worcester LLP, New York, NY, for Defendant-Appellee UniCredit Bank Austria AG.

Robert W. Gottlieb , Katten Muchin Rosenman LLP, New York, NY, for Defendant-Appellee Access International Advisers, LLC, et al.

Brett S. Moore , Porzio Bromberg & Newman P.C., New York, NY, for Defendant-Appellee Luxalpha SICA V, et al.

Robert Knuts , Park & Jensen LLP, New York, NY, for Defendant-Appellee Theodore Dumbauld.

Before: JACOBS, Chief Judge, WINTER and CARNEY, Circuit Judges.


DENNIS JACOBS, Chief Judge:

Irving Picard ("Picard" or the "Trustee") sues in his capacity as Trustee under the Securities Investor Protection Act ("SIPA") on behalf of victims in the multi-billion-dollar Ponzi scheme worked by Bernard Madoff. The four actions presently before this Court allege that numerous major financial institutions aided and abetted the fraud, collecting steep fees while ignoring blatant warning signs. In summary, the complaints allege that,...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases