Investors To Get $85M More From Merkin Funds

Law360, New York (December 18, 2012, 7:20 PM EST) -- A New York state judge on Tuesday approved an $85 million payment to investors in Gabriel Capital LP and Ariel Fund Ltd., two alleged Madoff feeder funds formerly run by hedge fund manager J. Ezra Merkin, bringing the total amount returned to investors to more than $588 million.

Judge Richard B. Lowe III approved the distribution, which was unopposed, after receiver Bart M. Schwartz made a motion in October for a fourth distribution of $40 million to Ariel investors and $45 million to Gabriel investors....
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