Kirkland & Ellis, MoFo and BakerHostetler advise as Bernie Madoff funds agree $500m recovery pay out
Kirkland & Ellis, Morrison & Foerster and BakerHostetler have helped agree a near $500m (£319m) pay out for victims of Bernard Madoff's infamous Ponzi scheme with two of the fraudster's feeder funds that are now in liquidation.
November 20, 2014 at 05:26 AM
2 minute read
Kirkland & Ellis, Morrison & Foerster and BakerHostetler have helped agree a near $500m (£319m) pay out for victims of Bernard Madoff's infamous Ponzi scheme with two of the fraudster's feeder funds that are now in liquidation.
The firm negotiated the settlement with Herald Fund SPC and Primeo Fund, which, if approved by a New York bankruptcy court, will take total recoveries for customers of Bernard L. Madoff Investment Securities LLC past the $10bn (£6.4bn) mark.
Madoff was sentenced to 150 years in prison in 2009 after pleading guilty to defrauding thousands of investors ranging from individuals to large hedge funds since the early 1990s.
Kirkland & Ellis litigation partners Joseph Serino and David Flugman led negotiations for Herald.
Gary Lee, global business restructuring and insolvency group co-chair, took charge of a Morrison & Foerster team representing Primeo, working alongside partner John Pintarelli.
BakerHostetler partner Oren Warshavsky acted as lead counsel for bankruptcy trustee Irving Picard, another partner at the firm who was appointed as trustee by the courts under the Securities Investor Protection Act.
The motion to approve the settlement, which was filed on Monday and gives all parties until December 10 to raise objections, also lists BakerHostetler partners David J. Sheehan, Geoffrey A. North, Tatiana Markel and Dominic Gentile as attorneys for Picard.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Big Law Heavyweights Wrestle in High-Stakes Sale of Venezuela’s Citgo
Cleary vs. White & Case: NYC Showdown Over $5 Billion Brazilian Bankruptcy
Singapore's Drew & Napier Secures $3.5B Award in Civil Suit
Trending Stories
- 1Products Liability: The Absence of Other Similar Claims—a Defense or a Misleading Effort to Sway a Jury?
- 2529 Accounts Are Not Your Divorce Piggybank
- 3Meta Hires Litigation Strategy Chief, Tapping King & Spalding Partner Who Was Senior DOJ Official in First Trump Term
- 4Courts Beginning to Set Standards for Evidence Relying upon Artificial Intelligence
- 5First-Degree Murder Charge May Not Fit Mangione Case
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
