A federal appeals court yesterday blocked new litigation against the estate of a Florida investor accused of helping Bernard Madoff commit fraud, after the estate had reached a $7.2 billion settlement to benefit Madoff’s customers, Reuters reported. The decision by the U.S. Court of Appeals for the 2nd Circuit is a victory for Irving Picard, the court-appointed trustee liquidating Bernard L. Madoff Investment Securities LLC after its December 2008 implosion. Picard has said that allowing the $11 billion lawsuit by A&G Goldman Partnership and Pamela Goldman against Jeffry Picower’s estate would undermine his authority to obtain settlements, while assuring settling parties they would not be sued again.
