U.S. District Judge Jed Rakoff shouldn’t enable the liquidator of Bernard Madoff’s firm to appeal a ruling that cut a $1 billion case against the New York Mets owners by two-thirds, the team owners said. Trustee Irving Picard assailed Rakoff’s ruling earlier this month, saying it “arbitrarily” allowed Fred Wilpon and Saul Katz to keep fictitious profits from the Ponzi scheme. Picard asked the judge to make a final ruling so he could appeal, or to allow an appeal before trial. The Major League Baseball team’s owners urged Rakoff to reject the request in a court filing. Read Bloomberg report here.
