We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Pension Insurer Becomes Creditor In Madoff Case

Law360 (January 14, 2009, 12:00 AM EST) -- The Pension Benefit Guaranty Corp. has become a creditor in the liquidation proceedings of disgraced financier Bernard L. Madoff's investment firm, with the government-backed insurer poised to pick up the pension tab for one of the companies that fell prey to the alleged $50 billion investment scheme.

On Tuesday, the insurer revealed its position as a new creditor in the liquidation proceedings of Bernard L. Madoff Investment Securities LLC as the winding down of the firm continued in a Manhattan bankruptcy court.

The disclosure of PBGC...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.