The liquidator of Bernard L. Madoff’s firm, who lost the right to demand $19 billion in damages from JPMorgan Chase & Co., appealed the ruling to a higher court. JPMorgan last month won the dismissal of trustee Irving Picard’s damage claims in his lawsuit alleging the biggest U.S. bank aided Madoff’s fraud. Picard can’t sue for common-law damages on behalf of the defunct Madoff firm’s customers, U.S. District Judge Colleen McMahon ruled in New York. Read Bloomberg Businessweek report here.
