However you view the Mets’ settlement, it’s still just one piece of a much larger puzzle. To date, Picard has recovered or reached settlements for more than $9 billion, which is more than half of the $17.3 billion in principal lost, according to information at the trustee’s website. A large portion of that amount–$6.4 billion–is under appeal by other disgruntled investors, but those cases may be weak. Joe Nocera, in his column Monday in the New York Times, called these appeals “ludicrous” and said they have no chance of succeeding.
via Where Does Picard Stand in Madoff Litigation? — AmLaw Litigation Daily