New York Observer – Following the climax of Madoff trustee Irving Picard’s lawsuit frenzy, The New York Timesreports that hedge funds and other investors in distressed assets are offering Madoff victims cash up front in exchange for the chance to reap big payouts once Mr. Picard’s crusade gets hashed out in courts.
After Mr. Picard went after HSBC, JPMorgan Chase and other deep-pocketed targets, investors have ramped up their efforts to get a shot at big winnings in bankruptcy court, The Times reports.
