Case 1:12-cv VM Document 31 Filed 02/08/13 Page 1 of LEXINGTON AVENUE' 7TH FLOOR' NEW YORK, NY 10022' PH, FAX

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1 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 1 of 9 B 0 I E S, S CHI L L E R & F LEX N E R L L P 575 LEXINGTON AVENUE' 7TH FLOOR' NEW YORK, NY 10022' PH, FAX BY HAND Judge Victor Marrero United States District Court Southern District of New York 500 Pearl Street New York, New York February 7,2013 l.' US!DCiSPN D ~MEN~r, HLacTRONICALLY FILED poc#: -.~PArti flleo~ '~-::::-""""""r:;s-r-y--"'",, Re: Picard v. Fairfield Greenwich Limited, et ale No. 12-CV (VM) Dear Judge Marrero: We are writing in regard to the Court's Decision and Order of February 6, 2013 (the "Order"), granting the Anwar Plaintiffs' motion to withdraw the reference in this adversary proceeding. Counsel for the BLMIS Trustee and the Fairfield Greenwich Defendants join in this letter. The Order directed the parties to confer as to a briefing schedule for the Trustee's underlying application for enforcement ofthe automatic stay and issuance of a preliminary injunction (the "Stay Application"). We wish to inform the Court that the parties previously entered into a StipUlation that was so ordered by the Bankruptcy Court on January 18,2013 (the "Stipulation"), a copy of which is enclosed. Pursuant to the Stipulation, opposition papers to the Stay Application were filed on January 25,2013. Since the Stay Application was pending in the Bankruptcy Court until entry of the February 6 Order, all filings to date have been made in that Court, but with the understanding that the Stay Application would be decided by this Court in the event the motion to withdraw the reference were granted. Provided it is acceptable to the Court, the parties request that the date for the Trustee to file any reply papers in support of the Stay Application be extended to February 19,2013, due to a persona) emergency of the Trustee's counsel. The Trustee further requests leave to file a reply brief not to exceed 35 pages (in order to respond in a single brief to the arguments advanced by the Plaintiffs and FG Defendants in their respective opposition papers, which in the aggregate totaled in excess of 60 pages). The Plaintiffs and FG Defendants take no position as to the Trustee's request. We believe this schedule is consistent with the Court's direction that the briefing schedule take into consideration the tinal fairness hearing on the Anwar settlement scheduled for March

2 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 2 of 9 BOIES, SCHILLER & FLEXNER LLP Judge Victor Marrero February 7, 2013 Page 2 Accordingly, the parties respectfully request that the Court (i) grant all parties leave to file notices in the District Court docket attaching copies of all papers filed to date in the Bankruptcy Court in connection with the Stay Application; (ii) order that all further papers in connection with this proceeding be filed in the District Court; and (iii) order that the Trustee's reply papers in support of the Stay Application shall be filed no later than February 19,2013, with a page limitation as determined by the Court in light of the Trustee's request. Respectfully yours, ~ ~~ Enclosure cc: Mark A. Kornfeld, Esq. (by ) Mark G. Cunha, Esq. (by ) All counsel in Anwar (by )

3 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 3 of 9 Pg 1 of 7 UNITEDSTATESBANKRlWTCYCOURT SOUTHERN DISTRICT OF NEW YORK SECURITIES INVESTOR PROTECTION CORPORATION, v. Plaintiff, BERNARD L. MADOFF INVESTMENT SECURITIES LLC, Adv. Pro. No (BRL) SIPA LIQUIDATION (Substantively Consolidated) In re: Defendant. BERNARD L. MADOFF, Debtor. IRVING H. PICARD, Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC, Adv. Pro. No (BRL) Plaintiff, v. Fairfield Greenwich Limited, Fairfield Greenwich (Bermuda) Ltd., Pacific West Health Medical Center Inc. Employees Retirement Trust, Harel Insurance Company Ltd., Martin and Shirley Bach Family Trust, Natalia Hatgis, Securities & Investment Company (SICO) Bahrain, Dawson Bypass Trust, S1. Stephen's School, Walter M. Noel, Jr., Jeffrey H. Tucker, Andres Piedrahita, Lourdes Barreneche, Robert Blum, CorneIis Boele, Gregory Bowes, Vianney d'hendecourt, Yanko della Schiava, Harold Greisman, Jacqueline Harary, David Hom, Richard Landsberger, Daniel E. Lipton, Julia Luongo, Mark McKeefry, Charles Murphy, Corina Noel Piedrahita, Maria Teresa Pulido Mendoza,. Santiago Reyes, Andrew Smith, Philip Toub, and. Amit Vijayvergiya, Defendants.

4 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 4 of 9 Pg 2 of 7 STIPULA TION AND ORDER Irving H. Picard, as trustee (the "Trustee") for the substantively consolidated liquidation of the business of Bernard L. Madofflnvestment Securities LLC ("BLMIS") under the Securities Investor Protection Act ("SIPA"), 15 V.S.c. 78aaa et seq., and the estate of Bernard L. Madoff ("Madoff'), individually, by and through his counsel, and Defendants Fairfield Greenwich Limited ("FGL"), Fairfield Greenwich (Bermuda) Ltd. ("FGB"), Walter M. Noel, Jr., Jeffrey H. Tucker, Andres Piedrahita, Lourdes Barreneche, Robert Blum, Comelis Boele, Gregory Bowes, Vianney d'hendecourt, Yanko della Schiava, Harold Greisman, Jacqueline Harary, David Horn, Richard Landsberger, Daniel E. Lipton, Julia Luongo, Mark McKeefry, Charles Murphy, Corina Noel Piedrahita, Maria Teresa Pulido Mendoza, Santiago Reyes, Andrew Smith, Philip Toub, and Amit Vijayvergiya (collectively the "Anwar Released Defendants") by and through their respective counsel; and Defendants Pacific West Health Medical Center Inc. Employees Retirement Trust, Harel Insurance Company Ltd., Martin and Shirley Bach Family Trust, Natalia Hatgis, Securities & Investment Company (SICO) Bahrain, Dawson Bypass Trust, St. Stephen's School, by and through their respective counsel (collectively, the "Representative Plaintiffs," and together with the Anwar Released Defendants, the "Injunction Defendants") (collectively the Trustee and the Injunction Defendants, the "Parties")I, hereby stipulate and agree as follows: WHEREAS, on November 29,2012, the Trustee commenced this adversary proceeding by filing a complaint and an application ("Preliminary Injunction Application") requesting, inter alia, enforcement ofthe automatic stay ofthe Bankruptcy Code and the related stay orders, and a I All terms not otherwise defined herein shall have the meanings set forth in the Preliminary Injunction Application. 2

5 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 5 of 9 Pg 3 of 7 preliminary injunction against the Injunction Defendants relating to a settlement proposed in Anwar v. Fairfield Greenwich Ltd., No (S.D.N.Y. filed Jan. 7, 2009) (the "Anwar Action"); WHEREAS, on December 13, 2012, this Court so ordered a joint stipulation among the Parties setting forth an agreed briefing schedule for any motions to withdraw the reference ("MTWR"), as well as briefing on the Trustee's Preliminary Injunction Application; WHEREAS, on December 21,2012, the Injunction Defendants filed their MTWR in this action; WHEREAS, the District Court subsequently agreed to hear the MTWR, and on January 7,2013, the District Court ordered that briefing scheduled with respect to the MTWR shall proceed in accordance with the Bankruptcy Court Stipulation; and WHEREAS, counsel for the Injunction Defendants contacted the Trustee requesting an extension of time to file oppositions/responses to the Preliminary Injunction Application. NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED BY AND BETWEEN THE TRUSTEE AND THE INJUNCTION DEFENDANTS: 1. The time by which the Injunction Defendants shall file any oppositions/responses to the Preliminary Injunction Application is extended from January 18,2013 to January 25, The time by which the Trustee and SIPC may file any replies in support of the Preliminary Injunction Application is extended from February 1,2013 to February 12, All pleadings addressing the Preliminary Injunction Application shall only be filed in Adversary Proceeding No (BRL) in the Bankruptcy Court unless the District Court has granted the MTWR prior to the filing of such pleading, with the understanding that the 3

6 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 6 of brl Doc 17 Filed 01/18/13 Entered 01/18/13 12:36:11 Main Document Pg 4 of 7 Parties do not seek to have the Preliminary Injunction Application considered by the Bankruptcy Court before a final decision is reached on the MTWR and thereafter the Parties will seek to have the Preliminary Injunction Application considered by the appropriate court pursuant to the decision on the MTWR. The filing of papers in the Bankruptcy Court (including this Stipulation and Order) shall not be deemed a waiver by any Injunction Defendant ofany rights or position in support of the MTWR, nor shall the fact of such filing be used by the Trustee or SIPC in opposition to the MTWR. 4. All further scheduling with regard to the Preliminary Injunction Application and proceedings on this adversary proceeding shall be subject to any orders that may be entered by the court presiding over this adversary proceeding following decision on the MTWR. 5. Nothing contained herein can or shall be construed as an adjudication on the merits of any claims the parties hereto may have against each other or any other party, or as an admission or acknowledgement ofany claim or defense as against any party, with all such claims and defenses preserved. 4

7 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 7 of 9 Pg 50f7 Dated: New York, New York January 18, 2013 /sl Robert C. Finkel lsi Keith R. Murphy Robert C. Finkel, Esq. David 1. Sheehan, Esq. James A. Harrod, Esq. Thomas L. Long, Esq. WolfPopper LLP Mark A. Kornfeld, Esq. 845 Third A venue Deborah H. Renner, Esq. New York, New York Tracey L. Cole, Esq. Telephone: (212) Keith R. Murphy, Esq. Facsimile: (212) Baker & Hostetler LLP rfinkel@wolfpopper.com 45 Rockefeller Plaza Jharrod@wolfpopper.com New York, New York Telephone: (212) Facsimile: (212) /s/ David A. Barrett dsheehan@bakerjaw.com David A. Barrett, Esq. tlong@bakerlaw.com Howard L. Vickery, II, Esq. mkornfeld@bakerlaw.com Boies, Schiller & Flexner LLP drenner@bakerlaw.com 575 Lexington A venue tcole@bakerjaw.com New York, New York kmurphy@bakerjaw.com Telephone: (212) Facsimile: (212) Attorneysfor Irving H Picard, Trustee for dbarrett@bsfllp.com the Substantively Consolidated SIP A hvickery@bsfllp.com Liquidation ofbernard L. MadoffInvestment Securities LLC and the estate ofbernard L. Madoff /s/ Christopher Lovell Christopher Lovell, Esq. Victor E. Stewart, Esq. /s/ Glenn Kurtz Lovell Steward Halebian Jacobson LLP Glenn Kurtz, Esq. 61 Broadway, Suite 501 Andrew Hammond, Esq. New York, New York White & Case LLP Telephone: (212) Avenue ofthe Americas Facsimile: (212) New York, New York clovell@lshllp.com Telephone: (212) vstewart@lshllp.com Facsimile: (212) gkurtz@whitecase.com Attorneysfor the Representative Plaintiffs ahammond@whitecase.com Attorneysfor Walter M Noel, Jr. 5

8 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 8 of brl Doc 17 Filed 01118/13 Entered 01/18/13 12:36:11 Main Document Pg 6of7 lsi Mark G. Cuhna Mark G. Cunha, Esq. Peter E. Kazanoff, Esq. Simpson Thacher & Bartlett LLP 425 Lexington A venue New York, New York Telephone: (212) Facsimile: (212) mcunha@stblaw.com pkazanoff@stblaw.com Attorneysfor Fairfield Greenwich Limited, Fairfield Greenwich (Bermuda) Ltd., Lourdes Barre neche, Vianney d'hendecourt, Yanko Della Schiava, Harold Greisman, Jacqueline Harary, Richard Landsberger, Daniel E. Lipton, Julia Luongo, Mark McKeefry, Charles Murphy, Corina Noel Piedrahita, Maria Teresa Pulido Mendoza, Santiago Reyes, Andrew Smith, and Philip Toub lsi Mark Goodman Mark Goodman, Esq. Helen Cantwell, Esq. Debevoise & Plimpton LLP 919 Third Avenue New York, New York Telephone: (212) Facsimile: (212) mgoodman@debevoise.com hcantwell@debevoise.com Attorneysfor Amit Vijayvergiya Is! Andrew Levander Andrew Levander, Esq. David Hoffner, Esq. Dechert LLP 1095 A venue ofthe Americas New York, New York Telephone: (212) Facsimile: (212) andrew.levander@dechert.com david.hoffner@dechert.com Attorneysfor Andres Piedrahita lsi Marc Kasowitz Marc Kasowitz, Esq. Daniel J. Fetterman, Esq. Kasowitz Benson Torres & Friedman LLP 1633 Broadway New York, New York Telephone: (212) Facsimile: (212) mkasowitz@kasowitz.com dfetterman@kasowitz.com Attorneysfor Jeffrey H Tucker 151 Edward M. Spiro Robert J. Anello, Esq. Edward M. Spiro, Esq. Morvillo, Abramowitz, Grand, Iason, Anello & Bohrer, P.C. 565 Fifth A venue New York, New York Telephone: (212) Facsimile: (212) ranello@maglaw.com espiro@maglaw.com Attorneysfor David B. Horn and Robert A. Blum 6

9 Case 1:12-cv VM Document 31 Filed 02/08/13 Page 9 of 9 Pg 7 of 7 lsi Sean F. O'Shea Sean F. O'Shea, Esq. Michael E. Petrella, Esq. O'Shea Partners LLP 521 Fifth Avenue, 25th Floor New York, New York Telephone: (212) Facsimile: (212) soshea@osheapartners.com mpetrella@osheapartners.com Attorneysfor Cornelis Boele lsi Bruce A. Baird Bruce A. Baird, Esq. Matthew F. Dunn, Esq. Covington & Burling LLP 1201 Pennsylvania Avenue, NW Washington, DC Telephone: (202) Facsimile: (202) bbaird@cov.com mdunn@cov.com Attorneysfor Gregory Bowes SO ORDERED this 18 day of January, 2013 IslBurton R. Lifland HONORABLE BURTON R. UFLAND UNITED STATES BANKRUPTCY COURT JUDGE 7