A New York state judge on Tuesday confirmed a $1.5 million arbitration award in favor of an investor in Ascot Partners, which was set up by hedge fund operator J. Ezra Merkin, who had turned over management of the fund to convicted Ponzi-schemer Bernard L. Madoff.

David Bamberger of Bamberger and Brickman, who represents the investor, Noel M. Weiderhorn, said that to his knowledge Manhattan Supreme Court Justice Richard B. Lowe’s affirmance of the 2-1 arbitration award is the first to hold one of Madoff’s “feeder funds” legally responsible for investor losses.

This content has been archived.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]