Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The court-appointed receiver for two funds created by hedge fund operator J. Ezra Merkin filed court papers (pdf) Monday seeking authorization to make an interim distribution of $200 million to the funds’ 278 investors. Merkin’s investors lost $1.2 billion because he placed their funds with Bernard L. Madoff, who is serving a prison term of 150 years for creating the largest Ponzi scheme in history, according to a lawsuit brought by the New York attorney general’s office.

Under the $200 million distribution, if approved by Manhattan Supreme Court Justice Richard B. Lowe III, who is presiding over the attorney general’s lawsuit, People v. Merkin, 450879/09, the investors would on average recoup approximately one-third of the losses they suffered in connection with funds Merkin turned over to Madoff, according to claims the receiver, Bart M. Schwartz, has filed in connection with the Madoff bankruptcy (See Schwartz’s affirmation).

This content has been archived.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]

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.