• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2010 / January / 26 / Picard Hires Canada’s Kugler Kandestin to Help Trace Madoff Assets

Picard Hires Canada’s Kugler Kandestin to Help Trace Madoff Assets

By Securities Docket on January 26, 2010, 7:26 am

Irving Picard, the court-appointed trustee tasked with recovering Bernard Madoff’s assets, has his sights set on certain assets in Canada.

Madoff was sentenced last year to 150 years in prison for orchestrating a massive Ponzi scheme that wiped out life savings and entire charities. Reuters reports that Picard, a partner at the law firm Baker & Hostetler LLP, believes that Madoff may have some assets in Canada and will now hire Montreal law firm, Kugler Kandestin LLP to help trace them. Picard’s motion to the U.S. Bankruptcy Court for the Southern District of New York to allow him to hire Kugler was reportedly approved by Judge Burton R. Lifland on Wednesday.

Picard was hired by the Securities Investor Protection Corp, a U.S. agency that helps recover assets from failed brokerages, to recover assets for victims of Madoff’s estimated $65 billion Ponzi scheme. Hundreds of Madoff victims have complained that Picard is undervaluing their claims and a hearing is scheduled on February 2, 2010 to examine his methods.

Read the Reuters article here.

Blog Widget by LinkWithin

Posted in Global | Tagged Canada, Financial Fraud, Investigations, Lawyers, Madoff

« Previous Next »

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.