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$37 Million and Counting Paid to Madoff Trustee, Firm
Fees awarded to Madoff trustee now total $37.5 million.
Madoff Trustee Raises Cash Loss Estimate to $21 Billion
SIPC has authorized an initial repayment of $534.3 million to victims.
Law Firm Baker & Hostetler Seeks $15 Million in Fees for Madoff Trustee Work
Law firm Baker & Hostetler submitted a bill on Friday seeking about $15 million in fees for the firm’s work as trustee in the Bernard Madoff case. The AmLaw Daily and the New York Law Journal report that the trustee, Irving Picard of Baker & Hostetler, has had about 80 Baker partners and more than [...]
SIPC President Says $2.6 Billion Will Cover all Legitimate Madoff Claims; Victims Disagree With Formula Used
Stephen Harbeck, president of the Securities Investor Protection Corp., has now stated that the $2.6 billion SIPC has on hand is enough to satisfy all legitimate claims by victims of Bernard Madoff’s Ponzi scheme. Bloomberg reports that Harbeck’s position is based on a formula with which Madoff investors take great issue. SIPC’s decision, first announced [...]