SIPC Recommends $60M In Fees For Madoff Trustee

Law360, New York (August 21, 2012, 5:18 PM EDT) -- The Securities Investor Protection Corp., which endowed Irving Picard as liquidation trustee for Bernard Madoff and his investment firm, urged a New York bankruptcy judge on Friday to approve $60 million in fees for Picard and his firm for a four-month period.

In a recommendation submitted to U.S. Bankruptcy Judge Burton R. Lifland, who's overseeing the liquidations of Madoff's estate and Bernard L. Madoff Investment Securities LLC, the SIPC requests that Picard and his law firm, Baker Hostetler, be compensated to the tune of $43.3 million,...
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