Offshore Funds, Madoff, Innkeepers, Giordano’s: Bankruptcy

The trustee liquidating Bernard L. Madoff Investment Securities Inc. and the Securities Investor Protection Corp. each filed 38-page briefs yesterday opposing dismissal of the trustee’s $59 billion lawsuit against UniCredit SpA and subsidiary UniCredit Bank Austria AG. The 76 pages of briefs, not counting supporting papers, represent the trustee’s and SIPC’s attempts at preventing U.S. District Judge Jed Rakoff from dismissing the suit for the reasons he gave in late July when he threw out the largest part of a separate $9 billion suit against HSBC Holdings Plc. Read more on Bloomberg Businessweek here.

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