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US appeals court upholds bar of Madoff claim sale

By Benjamin Clarke

05 June 2017

US appeals court upholds bar of Madoff claim sale New York iStock.com/Ultima_Gaina

A US appeals court has affirmed a lower court’s decision not to recognise a British Virgin Islands-based Madoff investor’s asset sale, finding that there should be no automatic “deference” to foreign rulings in Chapter 15 cases.