ABN Amro Bank NV and investment funds sued by the liquidator of Bernard Madoff’s brokerage succeeded in moving their cases to a district judge who may cut the amount of money the Madoff trustee can try to reclaim. U.S. District Judge Jed S. Rakoff in Manhattan said yesterday he would take a group of suits out of bankruptcy court, mostly to convey decisions he already made in trustee Irving Picard’s cases against HSBC Holdings Plc (HSBA) and the New York Mets owners, including high standards Picard must meet to show money wasn’t withdrawn in good faith. Read Bloomberg report here.
