Bernard Madoff, Marital Agreements and Mutual Mistake

<i>Simkin v. Blank</i>, a jarring Supreme Court decision, poses devastating consequences for divorcing couples who, unaware of Bernard Madoff's criminal enterprise, relied upon the accuracy of fraudulently generated portfolio statements.

22 minute read April 29, 2010 at 02:05 PM

Elliott Scheinberg

Bernard Madoff, Marital Agreements and Mutual Mistake

Disclosure in matrimonial actions is a matter of public policy. Richter v. Richter, 131 AD2d 453 (2nd Dept. 1987). Parties are required to present, inter alia, documents indicative of their financial holdings, such as institutionally generated portfolio statements whose accuracy and reliability are typically never challenged.

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