Irving H. Picard v. Saul B. Katz et al

Filing 190

Letter addressed to Judge Jed S. Rakoff from Fernando A. Bohorquez dated 5/4/2012 re: counsel writes to confirm the plaintiff's request, with the consent of the defendants. for a postponement of the hearing scheduled for May 15. 2012, at 4:00 p.m.. for the Court to consider approval of the settlement of the above-referenced litigation, and the related scheduling dates. (pl)

Baker Hostetler

Baker &Hostetler LLP
45 Rockefeller Plaz~.
r;Jew York. NY 10111

May 4, 201t./·

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VIA FACSIMILE [phone]

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T 212589.4200
F 212589.4201
w\Nw.bakerlaw.corr:
Fernando A. 8ohorquel
direct dial: 212 569 4242
[e-mail]

The Honorable Jed S. Rakoff, U.S.D.J.
United States District Court, Southern District of New York
500 Pearl Street, Room 1340
New York:, NY 10007
Attention. Mr. Caleb Deats, Law Clerk
Re:

Picard v. Saul B. Katz, et a/., 11 Civ. 03605 (JSR)(HBP)

Dear Judge Rakoff:
We write to confirm the plaintiff's request, with the consent of the defendants. for a
postponement of the hearing scheduled for May 15. 2012, at 4:00 p.m .. for the Court to
consider approval of the settlement of the above-referenced litigation, and the related
scheduling dates. During a telephone conference on May 3, 2012, with Mr. Deats and
counsel for the defendants, we were informed that the Court granted the request and
rescheduled the hearing date to May 31,2012, at 4:00 p.m., fixed May 24, as the date
for any objections to be filed and served, and May 29 as the date on which any reply
may be filed and served The Court also requested that we provide the reason for the
requested postponement.
The reason for the postponement is to ensure that notice has been properly given in
accordance with the applicable Bankruptcy Rules. On April 13, 2012, the plaintiff filed
with this Court hiS settlement motion pursuant to 11 U.S.C. § 105(a) and Rules
2002(a}(3} and 9019(a) of the Federal Rules of Bankruptcy Procedure ("Bankruptcy
Rule"). On that date, the plaintiff also properly served the motion papers and filed in
this action affidavits of service with the Clerk of this Court. See ECF Nos. 184·1. 185-4.
186-1 and 187-1.
Bankruptcy Rule 9019(a) requires notice in accordance with Bankruptcy Rule 2002
which requires at least 21 days' advance notice of the hearing on approval of a
compromise or settlement of a controversy to all creditors. Here, to provide the
requisite notice to all creditors, Bankruptcy Rule 2002 and the Bankruptcy Court's
December 5, 2011 "Order Establishing Notice Procedures and Limiting Notice"
("Bankruptcy Order Limiting Notice") [Bankr. Doc. No, 4560] required a notice of the
hearing to be filed in the main SIPA proceeding in the Bankruptcy Court.

Oenver

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The Honorable Jed S, Rakoff, U.S.D.J.
May 4,2012
Page 2

Inadvertently, however. the notice of hearing was filed and docketed only in Adv. Pro.
No, 10-05287(BRL}. and not in the main SIPA proceeding. which is Adv, Pro. No. 08­
01789(BRL), Because the notice of hearing was not filed and docketed in the main
SIPA proceeding. the master service list did not receive notice in accordance with
Bankruptcy Rules 2002(a)(3} and 9019(a) and the Bankruptcy Order Limiting Notice.
We requested the postponement to provide all those on the master service list in the
main SI PA proceeding with a copy of the "Notice of Rescheduled Hearing." a copy of
which is attached. We also will serve notice of the rescheduled hearing date and
related dates to al! interested parties in this action and file affidavits of service in the
Bankruptcy Court and this Court before the rescheduled hearing date,
We regret any inconvenience to the Court and the parties,
Respectfully.

c:;:;;.~rquez
Enclosures
cc:

Robert Wise, Esq., Davis. Polk & Wardwell

Dana M. Seshens, Esq .. Davis. Polk & Wardwell

Brian E. O'Connor. Esq , Willkie, Farr & Gallagher LLP

300244760

BAKER & HOSTETLER LLP
45 Rockefeller Plaza
New York, NY 10]] 1
Telephone: (:212) 589-4200
Facsimile: (212) 589-420J
David J. Sheehan
Fernando A. Bohoxquez, Jr.
Regina L. Griffin
A.lrorneysfor Irving H. Picard. Trusteefor the
SubSfan.fiveiy Consolidated SlPA Liquidation of
Bernard L. Modoff /nveslm,cnt Securities l.LC and Bernard L. Madoff

UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
• Adv. Pro. No. 08-01789 (BRL)

In re:

BERNAR D L. M:ADOFF INVESTMENT

STPA LIQUIDATION

SECURITIES LLC,

(Substantively Consolidated)
Debtor.
IRVING H. PICARD, Trustee for the Liquidation of
Bernard L. Madoff Investment Securities LLC,
Adv. Pro. No. 10-05287 (BRL)
Plaintiff,

v.
SAUL B. KATZ, et ai.,
Defendants.

NOTTCE OF RESCHEDULED HEARING
PLEASE TAKE NOTICE that Jrving H. Picard ("Tru:;tee"). as trustee for the liquidation
of the business of Bernard L. Madoff Investment Securities LLC under the Securities Investor

Protection Act, 15 U.S.c. §§ 78aaa el seq., and the subSLantively consolidated estate of Bernard
L. Madoff. by and through the Trustec'& undersigned counsel, has filed a motion (,,'Motion"') in
the United Stale;-- District Court for the Southern District of New York (HDistrict Court"),

assigned Case No. ] l-Civ.-03695, which is pending in the District Court. for entry of an Order
pursuant to 11 U.S.c. § 105(a) and

Ru1e~

2002(a)(3) and 9019(a) oftl"le Federal Rules of

Bankruptcy Procedure, a.pproving the Settlement Agreement entered into between the Trustee

and the Defendants in the

above~captioncd

matter.

PLEASE TAKE FURTHER NOTTCE that in $UPpott of the Motion, the Trustee has filed
in the Distric1 Court and shaU rely upon the Trustee's Motion and MemorandLlffi for Entry of
Order PurSllant tn Section 105(a) of the Bankruptcy Code and Rules 2002(2)(3) and 9019(a) of
the Federal Rules of Bankruptcy Procedure Approving Settlement Agreement, together with all
attachments, and the suppOlting Affidavit of Irving H. Picard ("Movi.ng Paperg"). The Moving
Paper~

may be viewed electronically on the Di$trict Court'~ docket at ECF Nos. 185-188 or in

person at the Daniel Patrick Moynihan United State') Courthouse, 500 Pearl Street, New York,
New York, first floor ("Moynihan Courthouse").
PLEASE TAKE fURTHER NOTICE that response.'" if any, to the Motion must·be filed
with the District COl.1lt on or before May 24, 2012, and on that date be senrcd upon (a) Baker &
Hostetler LLP, 45 RockefeUer Plaza, New York, New York 1011 L Attention: David.r. Sheehan,
Esq., counsel 1.0 the Trustee. (b) Davis Polk & Wardwell LLP, 450 Lexington Avenue, New
York, New York 10017, Attention: Robert F. Wise, Jr.. counsel to the Defendants, and (e) the
Securities Tnvestor Protection Corporation, 805 Fifteenth Street, N.W., Suite 800, Washington,
D.C. 20005, Attention: Kevin Bell, Esq" with a courtesy copy to the chambers of The
Honorable Jed S. Rakoff, United State'S District Judge, at tbe Moynihan Courthouse.
PLEASE TAKE FURTHER NOTICE that any reply papers may be served and filed in

(he Di:;trict Court on or before May 29, 2012.

2

PLEASE TAKE FURTHER NOTICE that the District Coun has scheduled a hearing on
the Motion at 4:00 p.m., on May 31, 2012, ("Hearing").
PLEASE TAKE FURTHER NOTICE that objecting parties arc required to appear at the
Hearing. and failure to appear may result in entry of an order granting the relief requested in the
Motion wilhollt further notice to the objecting parties or opportunity to be heard.
Dated: New York, New York
l'v1ay4,2012

lsI David J. Sheehan
Baker & Hostetler LLP
45 Rockefeller Plaza
New York. New York ]0111
Telephone: [phone]
Facsimile: [phone]
David J. Sheehan
dsheehan @bakerlaw.con}
Fernando A Bohorquez, Jr.
[e-mail]
Regina L. Griffin
rgriffi [e-mail]

Attorneysfor Irving H. Picard. Tmsleejor the
SuhstanTively Consolidated SZPA Liquidation of
Bernard L. Madofj Investment Securities LLC an.d
Bernard L. Madoff

300244.709