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Fight continues in Madoff case.

The trustee in the liquidation of what is left of Bernie Madoff’s scheme is Irving Picard. As we blogged about this case earlier, Picard has now filed a motion to protest an earlier motion to dismiss against Sterling Partners, this is a number of businesses that Fred Wilpon and Saul Katz, own also among them they own the New York Mets baseball team. Wilpon and Katz are looking to obtain at least a dismissal of Picards' lawsuit or receive a summary judgment. In a recent brief which was submitted last week opposing the motion to dismiss. Picard holds fast that the notion that Wilpon and Katz had every indication and knew full well Madoff was doing illegal things. For instance how they looked into buying fraud insurance back in 2001 to protect their monies involving the Bernard Madoff Investment Securities. Picard also proclaims that Katz’s own statements he made back in 2002 when he demanded for diversification of their accounts and move away from Madoff because “we don’t know what he does,” among other statements made against Madoffs' credibility. In contrast Wilpon and Katz proclaim Picard is just fabricating the real facts to the case. Their counsel then tried to obtain a summary judgment on the grounds of a few past depositions that they feel completely depicts Picard true colors of hand picking testimony that incriminated their clients. They went on to claim there were no smoke signals to tell them of any wrong-doings of Madoff. Also, the attorneys claim their clients did not look into insurance, they claim that a friend suggested they look into insurance to a salesperson, nothing more. In the end they did not buy any insurance because they had every belief Madoff was honest and it was not necessary.

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