Madoff Trustee Wants Merkin's $410M Deal With NY Blocked

Law360, New York (August 1, 2012, 5:48 PM EDT) -- Irving Picard, liquidating trustee for Bernard L. Madoff's investment firm, asked a New York bankruptcy court Wednesday to block the New York attorney general's $410 million settlement with hedge fund manager J. Ezra Merkin, saying those funds should be available to all of Madoff's victims.

Picard asked the court to halt the settlement until his $500 million clawback suit against Merkin has been resolved, arguing that New York Attorney General Eric Schneiderman's settlement would give the money to New York residents who were indirect investors in...
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