Madoff Feeder Funds Alter $212M Settlement

Law360, New York (June 22, 2011, 7:04 PM EDT) -- Two bankrupt feeder funds for Bernard L. Madoff's massive Ponzi scheme proposed changes Tuesday in New York to a $212 million settlement to appease investors who had balked at the deal.

Greenwich Sentry LP and Greenwich Sentry Partners LP said they had met with attorneys for various parties and decided to limit what had been an expansive injunction that would have barred anyone other than Irving Picard, the trustee overseeing the liquidation of Madoff's investment firm, from suing the two funds' management.

The change should quell...
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