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

Filing 193

STIPULATION AND ORDER OF VOLUNTARY DISMISSAL OF ADVERSARY PROCEEDING WITH PREJUDICE: IT IS HEREBY STIPULATED AND AGREED that pursuant to Rule 41(a)(1)A)(ii) of the Federal Rules of Civil Procedure, the Trustee's claims against the Defendants in the Adversary Proceeding and the Adversary Proceeding are hereby dismissed with prejudice and without costs, fees, or expenses to any Party. IT IS HEREBY STIPULATED AND AGREED that the provisions of this Stipulation shall be binding upon and shall inure to the benefit of the Parties and their respective successors, heirs, and assigns. (Signed by Judge Jed S. Rakoff on 6/6/2012) (jfe)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

In re:

Adv. Pro. No. 08-01789 (BRL)

BERNARD L. MADOFF INVESTMENT
SECURITIES LLC,
Debtor,

SIP A LIQUIDA nON
(Substantively Consolidated)

IRVING H. PICARD, Trustee for the Liquidation of Adv. Pro. No. 10-05287 (BRL)
Bernard L. MadoffInvestment Securities LLC,
Plaintiff,
v.

11 Civ. 03605 (JSR) (HEP)

SAUL B. KATZ, et aI.,
Defendants.

STIPULATION AND ORDER OF VOLUNTARY DISMISSAL OF ADVERSARY
PROCEEDING WITH PREJUDICE
Plaintiff Irving H. Picard (the "Trustee"), 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, et seq., and the substantively consolidated estate of Bernard L. Madoff
individually, by and through his counsel Baker & Hostetler LLP, and the Defendants. by and
through their counsel Davis Polk & Wardwell LLP, hereby stipulate and agree to the foHowing:
WHEREAS, the Trustee commenced the above-captioned adversary proceeding by filing
a complaint dated December 7. 2010, as amended on March 18,2011, in the United States
Bankruptcy Court for the Southern District of New York ("Adversary Proceeding");
WHEREAS, the Defendants filed a motion to withdraw the reference of the Adversary
Proceeding, which was granted by this Court by order dated July 1, 2011; and
WHEREAS, on March 16. 2012, the parties to the Adversary Proceeding' ("Parties'')
signed a Memorandwn of Understanding agreeing to a final settlement, subject to Court approval

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pursuant to Rule 9019 of the Federal Ru les of Bankruptcy Procedure, which was filed with this
Court on March 19,2012;
WHEREAS, on April 13,2012, the Parties entered into a settlement agreement, and the
Trustee filed a motion for entry of an order pursuant to Section 105(a) of the Bankruptcy Codc
and Rules 2002(a)(3) and 90 19(a) of the Federal Rules of Bankruptcy Procedure approving the
Parties' settlement agreement; and
WHEREAS, on May 31, 2012, the Court entered an order pursuant to Section 105(a) of
the Bankruptcy Code and Rules 2002(a)(3) and 9019(a) of the Federal Rules of Bankruptcy
Procedure granting the motion and approving the settlement agreement;
IT IS HEREBY STIPULATED AND AGREED that pursuant to Rule 41 (a)(1)(A)(ii) of
the Federal Rules ofCivii Procedure, the Trustee's claims against the Defendants in the
Adversary Proceeding and the Adversary Proceeding are hereby dismissed with prejudice and
without costs, fees, or expenses to any Party.
IT IS HEREBY STIPULATED AND AGREED that the provisions of this Stipulation
shall be binding upon and shall inure to the benefit of the Parties and their respective successors,
heirs, and assigns.
IT IS HEREBY STIPULATED AND AGREED that this Stipulation may be signed by
the Parties in any number of counterparts, each of which when so signed shall be an original, but
all of which shall together constitute one and the same instrument. A signed facsimile,
photostatic or electronic copy of this Stipulation shall be deemed an original.

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BAKER& HOSTETLER LLP

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DAVIS POLK & WARDWELL LLP

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By:

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Robed F. Wise:~
.."

Karen E. Wagner

Dana M. Seshens

450 Lexington Avenue

New York, New York 10017

Telephone: [phone]

Facsimile: (212) 701·58000

Fernando A. Bohorquez, Jr.
Regina L. Griffin
45 Rockefeller Plaza
New York, New York 10111
Telephone: [phone]
Facsimile: [phone]

Atlorneysjor Dejendants

Attorneys for Irving H Picard, Trustee for
the Substantively Consolidated SIPA
Liquidation ofBernard L. Madog
Investment Securities LLC and Bernard L.
Madoff

SO ORDERED

~

UNITED STATES DISTRICT JUDGE

i.

Dated: June
2012
New York, New York

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