Madoff Trustee, Fairfield Sentry Call Truce

Law360, New York (May 9, 2011, 6:41 PM EDT) -- The trustee overseeing the liquidation of Bernard L. Madoff's investment advisory firm said Monday he had reached a settlement with Fairfield Sentry Ltd., the jailed Ponzi schemer's largest feeder fund, that slashed its claims by nearly $1 billion.

The agreement allows the trustee for Bernard L. Madoff Investment Securities LLC, Irving H. Picard, and the Fairfield Sentry joint liquidators, Kenneth Krys and Joanna Lau, to join forces in pursuing recoveries for the victims of Madoff's massive scheme, including cases against Fairfield Sentry owners and management....
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