Madoff Report Calls For Transparency In Trustee Hires

Law360, New York (March 7, 2012, 3:58 PM EST) -- A government report on Wednesday largely backed efforts by Bernard L. Madoff's bankruptcy trustee to hold down record litigation costs while pursuing clawback suits, but said a lack of transparency about the trustee’s appointment had fueled concerns over his handling of the case.

The U.S. Government Accountability Office said in an interim report that while final costs to liquidate Bernard L. Madoff Investment Securities LLC were expected to surpass $1 billion through 2014, the ratio of costs to customer recoveries fell within the historical norm for...
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