Following up on our earlier story, Judge Jed Rakoff, in a summary judgment this morning, has ruled that the case for the trustees of the Bernie Madoff Ponzi victims is convincing enough to move forward with a jury. The trial is set to begin on March 19.
As part of his judgment, Rakoff has also awarded the trustees $83 million.
Naturally, Fred Wilpon and Saul Katz had hoped the summary judgment would fall in their favor, obviating the need for a proper trial. Such a decision would doubtless have led to appeals on the part of Irving Picard and the trustees, but even a modest victory — something short of a thoroughgoing triumph — would have brightened the day for the Mets' owners, who have had a rough couple of years in nearly all areas.
We'll have more as this story continues to develop. For now, though, it's business as usual. The trial goes forward as scheduled and we all sit back and wait to see what comes of it.