Bankruptcy Law

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

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: “Trustee Picard Will Be ‘Richer Than Madoff’ Once Legal Bills are Paid, Investor Lawyer Says” “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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