Madoff Feeder Fund Files For Ch. 11 To Aid Settlements

Law360, New York (November 22, 2010, 7:33 PM EST) -- Greenwich Sentry LP, a feeder fund in Bernard L. Madoff’s Ponzi scheme, has filed for Chapter 11 bankruptcy protection to keep creditors at bay and use the reorganization process to work toward a global settlement with victims.

 

On Friday, the fund filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York, in order to stay the swarm of litigation over the Madoff scheme and focus on dealing with Madoff trustee Irving Picard’s adversary proceeding for $206 million in fraudulent...
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