Madoff Sons Ask Judge to Reject Trustee’s Bid to Revamp Suit

Lawyers for Bernard Madoff’s two sons are asking a bankruptcy judge to reject the latest bid by Irving Picard, the court-appointed trustee handling the bankruptcy of Mr. Madoff’s firm, to sue the Madoff brothers over their alleged role in their father’s Ponzi scheme. Defense lawyers for Mark and Andrew Madoff in filings with the U.S. Bankruptcy Court in New York blasted Mr. Picard’s latest attempt to hold the brothers accountable for their father’s misdeeds, noting the trustee “was dealt a resounding defeat” in a similar lawsuit he pursued in the U.K. “The Trustee’s apparent response to such a ringing rejection of his theories is simply to seek another bite at the apple here” in the U.S., lawyers for the Madoff brothers said Tuesday. “The bottom line is that it is simply too late for the Trustee to yet again reinvent his complaint.” More in the Wall Street Journal here.