SIPC, Madoff Trustee Announce $231 Million in Funds Committed to BLMIS Customers
Trustee Picard Makes It Easier For Last-Minute Filers
NEW YORK CITY & WASHINGTON -- July 1, 2009 – A total of $231 million in Securities Investor Protection Corporation (SIPC) funds has been committed in the determination of 543 claims submitted by Bernard L. Madoff Investment Securities LLC (BLMIS) investors, according to Irving H. Picard, the court-appointed trustee for the liquidation of BLMIS under the Securities Investor Protection Act (SIPA), and SIPC President Stephen Harbeck. Claims must be received on or before Thursday, July 2, 2009 by the Trustee's claims agent, AlixPartners LLP. To assure timely receipt, last-minute filers can deliver their claims by hand to AlixPartners LLP c/o the Trustee's law firm, Baker & Hostetler LLP, 45 Rockefeller Plaza, New York, NY 10111 until midnight, Thursday, July 2, 2009. … (more)
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SIPC Supports $235 Million Settlement with Optimal in Madoff Liquidation
Over $116 Million in Commitments Made So Far to Satisfy 237 Madoff Claimants
WASHINGTON, D.C. -- May 26, 2009 – The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms, today applauded the nearly quarter of a billion dollar settlement reached by Optimal Investment Services (Optimal) by Irving Picard, the trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS)… (more)
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SIPC: $61 Million in Commitments Made to Madoff Claimants, $100 Million Level Expected by Memorial Day
New York, N.Y. & Washington, D.C. -- May 14, 2009 – Even as forensic accountants and lawyers continue to untangle what is believed to be the most complicated and far-reaching financial fraud in U.S. history, a total of $61,409,834.50 of Securities Investor Protection Corporation (SIPC) funds already has been committed in determination letters sent to 125 claimants in the Securities Investor Protection Act (SIPA) liquidation proceeding for Bernard L. Madoff Investment Securities LLC (BLMIS), according to Irving H. Picard, the court-appointed trustee, and SIPC President Stephen Harbeck. In a briefing today for reporters, Picard and Harbeck said that the commitment of SIPC funds is expected to reach or exceed the $100 million level by Memorial Day… (more)
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