Madoff Trustee Recovers $950M For Investors

Law360, New York (February 4, 2009, 12:00 AM EST) -- The trustee overseeing the liquidation of Bernard L. Madoff's investment firm reportedly said Wednesday he had recovered around $946 million but that he was disappointed at how slow the probe to recover funds for aggrieved investors was moving.

Irving Picard of Baker Hostetler LLP told Judge Burton R. Lifland of U.S. Bankruptcy Court for the Southern District of New York that gaining access to Bernard L. Madoff Investment Securities LLC and examining 7,000 boxes of information stored at a warehouse is a slow-moving process, according to...
To view the full article, register now.