In a ruling Tuesday, U.S. Bankruptcy Judge Burton Lifland agreed with [Madoff trustee Irving] Picard’s determination that investors in 16 feeder funds to Bernard Madoffs fraud didn’t qualify as customers under the Securities Investor Protection Act, meaning they wont be eligible for certain payments of up to $500,000 from the Securities Investor Protection Corp.
Read more: Judge Agrees With Trustee, Feeder Fund Investors Not Madoff Customers — WSJ Law Blog
