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Madoff Trustee Recovers $280M In Ezra Merkin Settlement

Law360 (June 13, 2018, 6:45 PM EDT) -- The trustee for Bernie Madoff's defunct investment firm Wednesday asked a New York bankruptcy court to approve a $280 million settlement of his claims that disgraced financier J. Ezra Merkin received fraudulent transfers from Madoff’s fund.

In a Wednesday press release, trustee Irving Picard said that in exchange for the return of what he said were two years worth of transfers from Bernard L. Madoff Investment Securities LLC, he will allow Merkin’s Ascot Partners fund’s nearly $502 million net equity claim against the estate and pay...
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