Investors To Get $110M From Merkin Funds

Law360, New York (July 11, 2012, 2:11 PM EDT) -- Gabriel Capital LP and Ariel Fund Ltd., two alleged Madoff feeder funds formerly run by hedge fund manager J. Ezra Merkin, will pay $110 million to investors, the funds' receiver said Wednesday.

New York state court judge Richard B. Lowe granted a motion from receiver Bart M. Schwartz to make a $110 million distribution, bringing the total recovery to Merkin investors to more than $500 million, Schwartz said. The money, part of a third round of distributions, is expected to go out within the next 10...
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