The trustee charged with liquidating the estate of Bernard L. Madoff’s investment firm has recovered some $1.5 billion in assets and hopes to begin distributing the money to customers before the end of the year, according to court papers filed Friday.

In an 83-page interim report submitted to Southern District Bankruptcy Judge Burton R. Lifland, Irving H. Picard of Baker & Hostetler reported that “notwithstanding the monumental and unprecedented task faced by the Trustee, substantial progress” has been made in “reviewing and determining customer claims.”

This content has been archived.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 Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

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]