The trustee liquidating Bernard Madoff’s investment company to repay victims won a court ruling easing his ability to sue customers of feeder funds that profited from the con man’s $17 billion Ponzi scheme. The trustee, Irving Picard, doesn’t need specific rulings against the funds in order to go after banks to which the funds transferred their Madoff cash, according to U.S. District Judge Jed Rakoff in New York. Picard also didn’t miss a two-year deadline to file such lawsuits, Rakoff said. More on Bloomberg BusinessWeek here.
