Irving H. Picard v. RAR Entrepreneurial Fund, Ltd.

Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK wee KX In re: BERNARD L. MADOFF INVESTMENT : SECURITIES LLC, : : 20-CV-1029 (JMF) Debtor. : : ORDER

IRVING H. PICARD, Trustee for the Liquidation of : Bernard L. Madoff Investment Securities LLC, and : Bernard L. Madoff, : Plaintiff, : -v- : RAR ENTREPRENEURIAL FUND, LTD., : Defendant. : wee KX JESSE M. FURMAN, United States District Judge: Earlier today, the Second Circuit affirmed Judge Koeltl’s award, in a nearly identical case, of prejudgment interest at the rate of 4% from the date of the filing of the complaint. See Securities Investor Protection Corp. v. JABA Assocs. LP, 528 F. Supp. 3d 219, 245-46 (S.D.N.Y. 2021), aff'd sub nom. Picard v. JABA Assocs. LP, Docket No. 21-872, slip op. at 31-34 (2d Cir. Sept. 20, 2022). In light of that decision, and substantially for the reasons stated in Judge Koeltl’s opinion and the supplemental submissions of the Trustee, see ECF Nos. 141, 146, the Trustee’s request for prejudgment interest from November 12, 2010, through the date of entry of judgment at the rate of 4% is GRANTED. The Trustee shall, after conferring with Defendant, promptly file a proposed Final Judgment consistent with this Order, the Court’s prior rulings, and the jury’s verdict of March 7, 2022. SO ORDERED. Dated: September 20, 2022 New York, New York JESS “FURMAN nited States District Judge