Madoff Trustee, Tremont Shake Challenge To $1B Deal

Law360, New York (June 28, 2012, 10:15 PM EDT) -- A New York federal judge on Wednesday threw out an investor challenge to the $1 billion settlement between Bernard L. Madoff's liquidation trustee and feeder fund operator Tremont Group Holdings Inc., saying the investors are not directly affected by the deal.

The investors, which included Phoenix Lake Partners LP, had filed in October an appeal to the settlement that resolved trustee Irving H. Picard's allegations that Tremont and its funds funneled billions into Madoff's massive Ponzi scheme. The investors argued that the settlement was not actually...
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