Sec. Inv'r Prot. Corp. v. Bernard L. Madoff Inv. Sec. (In re Madoff)

Full title: SECURITIES INVESTOR PROTECTION CORPORATION, Plaintiff-Applicant, v…

Court: United States Bankruptcy Court, Southern District of New York

Date published: Oct 26, 2023

08-01789 CGM (Bankr. S.D.N.Y. Oct. 26, 2023)

Opinion

08-01789 CGM Adv. Pro. 10-5311 (CGM)

10-26-2023

SECURITIES INVESTOR PROTECTION CORPORATION, Plaintiff-Applicant, v. BERNARD L. MADOFF INVESTMENT SECURITIES LLC, Defendant. In re: BERNARD L. MADOFF, Debtor. IRVING H. PICARD, Trustee for the Substantively Consolidated SIPA Liquidation of Bernard L. Madoff Investment Securities LLC and the Chapter 7 Estate of Bernard L. Madoff, Plaintiff, v. UBS EUROPE SE (f/k/a UBS (LUXEMBOURG) S.A.), UBS FUND SERVICES (LUXEMBOURG) S.A., UBS THIRD PARTY MANAGEMENT COMPANY S.A., M&B CAPITAL ADVISERS SOCIEDAD DE VALORES, S.A., RELIANCE INTERNATIONAL RESEARCH LLC, LUXEMBOURG INVESTMENT FUND AND LUXEMBOURG INVESTMENT FUND U.S. EQUITY PLUS, as represented by their Liquidators MAÎTRE ALAIN RUKAVINA and PAUL LAPLUME, MAÎTRE ALAIN RUKAVINA and PAUL LAPLUME, in their capacities as liquidators and representatives of LUXEMBOURG INVESTMENT FUND AND LUXEMBOURG INVESTMENT FUND U.S. EQUITY PLUS, Defendants.

Cecelia G. Morris U.S. Bankruptcy Judge

SIPA LIQUIDATION

ERRATA ORDER REGARDING MEMORANDUM OF DECISION DENYING DEFENDANTS' MOTION TO DISMISS

Cecelia G. Morris U.S. Bankruptcy Judge

The Memorandum Decision Denying Defendant's Motion to Dismiss, dated October 10, 2023 (ECF No. 319), should be corrected as follows. On page 10, the paragraph entered as:

Defendant is a securities broker-dealer organized in Spain. (Id. ¶ 84). M&B allegedly created and ran the feeder fund, LIF-USEP, which invested $758 million with BLMIS. (Am. Compl. ¶¶ 169, 258-59.). It allegedly received BLMIS account statements and trade confirmations. (Id. ¶ 259). As distributor of LIF-USEP, M&B recruited investment capital for the fund. (Id. ¶¶ 4, 92, 179). It received millions in fees in the form of BLMIS money through LIF-USEP as a result from its relationship to LIF-USEP. (Id. ¶¶ 92, 171, 270). M&B also served as the feeder fund's official sponsor, custodian, administrator, manager, and advisor. (Id. ¶ 259).

should be corrected to read as follows:

Defendant is a securities broker-dealer organized in Spain. (Am. Compl. ¶ 84). M&B allegedly created and ran the feeder fund, LIF-USEP, which invested $758 million with BLMIS. (Id. ¶¶ 169, 258-59.). It allegedly received BLMIS account statements and trade confirmations. (Id. ¶ 259). As distributor of LIF-USEP, M&B recruited investment capital for the fund. (Id. ¶¶ 4, 92, 179). It received millions in fees in the form of BLMIS money through LIF-USEP as a result from its relationship to LIF-USEP. (Id. ¶¶ 92, 171, 270). M&B also served as the feeder's distributor and advisor. (Id. ¶ 259).