The liquidator of Bernard Madoff’s firm, who has filed “hundreds” of lawsuits demanding return of so-called fictitious profits made in the Ponzi scheme, faces mass bids by investors to dismiss the cases, a lawyer said.
Trustee Irving Picard has been conferring with lawyers since January on so-called omnibus procedures for handling the motions to dismiss, lawyer Jonathan Landers, who represents a Madoff investor, said.
“Lawyers for customers want to be heard at the same time,” Landers said in a phone interview. “A group will formulate common issues, and there will be common deadlines for filing papers in bankruptcy court.”
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