Citing what they called the “pathetic track record” of the court-appointed trustee in charge of liquidating Bernard L. Madoff’s investment securities firm, three Pennsylvania residents who invested with Madoff urged a bankruptcy court to reject the request of Irving H. Picard and his counsel for more than $15 million in interim fees.
In papers filed Monday with the U.S. Southern District Bankruptcy Court, Diane and Roger Peskin and Maureen Ebel, who claim the support of more than 100 customers of Bernard L. Madoff Investment Securities LLC, accused Picard and his legal team at Baker & Hostetler of causing “needless devastation” to Madoff’s customers by “ignoring” the mandate of the Securities Investor Protection Corporation (SIPC) to pay claims promptly based upon their “statutory balances.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
