Creditors who wish to assert claims against two hedge funds formerly run by financier J. Ezra Merkin have until next month to submit claims to the funds’ court-appointed receiver, a Manhattan judge has ruled. The decision sets the stage for Bart M. Schwartz, the receiver for Ariel Fund Ltd. and Gabriel Fund, L.P., to make a proposed $200 million interim distribution to some 278 investors who lost more than $1 billion after Merkin funneled one-fourth of the funds’ assets to convicted Ponzi scheme artist Bernard L. Madoff.

Supreme Court Justice Richard B. Lowe’s order in People v. J. Ezra Merkin (pdf), 450879/09, sets Sept. 20 as the claims-bar date and the deadline for any objections to the proposed distribution.

This content has been archived.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

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]