A bankruptcy judge has approved a request by the trustee liquidating Bernard L. Madoff’s investment firm, and his team of lawyers, for roughly $15 million in interim counsel fees.
At a hearing this morning, David J. Sheehan of Baker & Hostetler, who is counsel for trustee Irving H. Picard, told Southern District Bankruptcy Judge Burton R. Lifland that tracing the trail of money in the complex Madoff fraud was not a matter of simply looking at a bank statement and required a full-service team of attorneys. Moreover, Mr. Sheehan said, the case has generated a “vast array of international litigation,” an onion that “has yet to be peeled to its core.”
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