Madoff Judge OKs Trustee's $543M JPMorgan Settlements

Law360, New York (February 4, 2014, 12:00 PM EST) -- A New York bankruptcy judge on Tuesday signed off on a pair of settlements worth $543 million between the trustee liquidating Bernard L. Madoff Investment Securities LLC's estate and JPMorgan Chase & Co., pushing Madoff victims' recovery up to $2.2 billion.

U.S. Bankruptcy Judge Stuart M. Bernstein approved the settlements, one worth $325 million settling BLMIS Securities Investor Protection Act trustee Irving Picard's avoidance claims against the bank and one worth $218 million resolving common law claims brought separately by Picard and a class of Madoff...
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