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Bankruptcy Law

Law firm’s latest bill for Madoff liquidation is $50M, bringing total since his 2008 arrest to $440M

Posted Apr 30, 2013 10:47 AM CDT
By Martha Neil

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Since December 2008, when Bernard Madoff was arrested in a record-breaking Ponzi scheme operated under the guise of an investment firm, Irving Picard and his law firm have been handling the liquidation for the Securities Investor Protection Corp.

A filing in federal court in Manhattan shows the latest bill from Baker & Hostetler, for legal work and costs, is about $50 million, Bloomberg reports. That covers the period from July 1 to Nov. 30.

The firm has billed a total of around $440 million since 2008.

See also:

ABAJournal.com: "Trustee Picard Will Be ‘Richer Than Madoff’ Once Legal Bills are Paid, Investor Lawyer Says"

ABAJournal.com: "Baker Hostetler Is ‘Transformed’ by Madoff Work, Will Leverage Proprietary Computer System"

Palm Beach Daily News: "Fed court thwarts Madoff trustee’s attempt to collect millions"

Reuters: "Madoff trustee cannot block $410 million Merkin accord: judge"

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