Picard-Wilpons Settlement: Impact Of Distributions
August 10, 2012, 12:39 PM EDT
Law360, New York (August 10, 2012, 12:39 PM EDT) -- There have been recent media reports respecting efforts of trustee Irving Picard to make a substantial distribution of up to several billion dollars to Madoff victims in the near future. This article will discuss a potential impact that such a distribution may have on the diverse and somewhat divergent interests among the Wilpons that are parties to the global settlement agreement with Picard and how the Wilpons may address such an impact.
There are concerns about the inclusion of the Wilpons' private charitable foundations in the...