Judge Clears Nadel Receiver's Distribution Plan

Law360, New York (March 2, 2012, 6:00 PM EST) -- A Florida federal judge on Friday approved a receiver's distribution plan for the estate of jailed Ponzi schemer Arthur G. Nadel, saying the blueprint for handing out funds to victims of the $168 million fraud was fair and reasonable.

U.S. District Judge Richard A. Lazzara found that receiver Burton W. Wiand's determinations on 504 claims totaling $158.2 million that investors and others submitted as well as the proposed priority rankings for the claims were equitable. The judge on Friday also barred further claims against the receivership...
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