Madoff trustee Irving Picard has succeeded in winning back $2.48 billion for the 1,230 former customers of Bernard L. Madoff Investment Securities LLC of the massive Ponzi scheme, one of the largest payouts in history.
At a glance:
Legal Fees Granted: $321.2 million for law firm Baker & Hostetler for year ended 31 January 2012
Payouts: From $1,784 to $526.9 million
Largest valid claim: $1.57 billion by Optimal Multiadvisors Ltd, part of Spain’s Banco Santander SA; and $741 million by M-Invest Ltd, a “feeder” fund created by Switzerland’s Union Bancaire Privee (according to a September 13 report by the U.S. Government Accountability Office)
Case Reference: Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC, U.S. Bankruptcy Court, Southern District of New York, No. 08-ap-01789
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