Madoff Trustee Settles $212M Claims With Feeders

Law360, New York (May 18, 2011, 6:14 PM EDT) -- The trustee overseeing the liquidation of Bernard L. Madoff's investment advisory firm agreed Wednesday to drop $212 million in claims in New York bankruptcy court against two Madoff feeder funds in the Fairfield Greenwich Group.

As part of the agreement with Greenwich Sentry LP and Greenwich Sentry Partners LP, the trustee, Irving Picard, will also take over the bankrupt funds' claims against their former investment managers, partners and directors, according to the settlement agreement.

"The agreements allow the trustee to pursue actions against entities, including subsequent...
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