Settlement talks between Mets, Madoff trustee end

[February 04, 2011]  NEW YORK (AP) -- A lawyer for the trustee trying to recover money for the victims of the Bernie Madoff Ponzi scheme says negotiations have ended to settle a lawsuit filed against the New York Mets owners and their affiliated companies.

David J. Sheehan, a lawyer for trustee Irving H. Picard, sent a letter to Judge Burton R. Lifland of U.S. Bankruptcy Court in Manhattan on Thursday asking that he unseal the lawsuit filed Dec. 7 against Fred Wilpon, Jeff Wilpon, Saul Katz and various affiliated entities affiliated with the Mets and Sterling Equities.

Karen E. Wagner, a lawyer for the Mets owners, said in a letter to Lifland later Thursday that her clients no longer opposed unsealing the suit.

[Associated Press; By RONALD BLUM]

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