Investors in “feeder funds” whose money was funneled into Bernard Madoff’s fraudulent securities firm may receive nearly $500 million to recoup part of their lost investments, a panel for the U.S. Court of Appeals for the Second Circuit ruled Friday.
The judges unanimously rejected an attempt by Irving Picard, trustee for the Liquidation of Bernard Madoff Investment Securities (BLMIS), to void settlements designed to return money to investors in Fairfield Greenwich Ltd. and in two funds operated by hedge fund manager J. Ezra Merkin, Ariel Fund Ltd., Ascot Fund Ltd. and Gabriel Capital LP.
This content has been archived.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
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
