Law360, New York (May 17, 2012, 9:07 PM ET) -- A New York bankruptcy judge Tuesday approved a $29 million cash settlement between Trotanoy Investment Co. Ltd. and Irving Picard, the trustee for Bernard L. Madoff Investment Securities LLC who originally sought to claw back $180 million in the adversary proceeding.
Picard had targeted Trotanoy, a Guernsey-based investment firm, along with Geneva-based Hyposwiss Private Bank Geneve SA and Guernsey-based Palmer Fund Management Services Ltd., in connection with money Trotanoy transferred from BLMIS and subsequently channeled to the other defendants.
U.S. Bankruptcy Judge Burton R. Lifland signed...
Madoff Trustee Claws Back $29M In Trotanoy Settlement
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