{"id":17133,"date":"2010-08-06T07:51:48","date_gmt":"2010-08-06T11:51:48","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=17133"},"modified":"2010-08-06T08:01:35","modified_gmt":"2010-08-06T12:01:35","slug":"vizcaya-hedge-fund-ordered-to-pay-180-million-to-picard-in-clawback-lawsuit","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2010\/vizcaya-hedge-fund-ordered-to-pay-180-million-to-picard-in-clawback-lawsuit.html","title":{"rendered":"Vizcaya Hedge Fund Ordered to pay $180 Million to Picard in &#8220;Clawback&#8221; Lawsuit"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/alg_resize_bernard-madoff_irving-picard1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-17138\" title=\"bernard-madoff_irving-picard\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/alg_resize_bernard-madoff_irving-picard1-300x163.jpg\" alt=\"\" width=\"300\" height=\"163\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/alg_resize_bernard-madoff_irving-picard1-300x163.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/alg_resize_bernard-madoff_irving-picard1.jpg 502w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.net) &#8211; Hedge fund Vizcaya Partners Ltd., have been ordered to pay $180 million to Irving Picard, a trustee for Bernard Madoff\u2019s investment-advisory business by Judge Burton Lifland in Manhattan Bankruptcy Court.<\/p>\n<p>The judge said that the hedge fund failed to plead its case \u201cor otherwise defend itself\u201d against Picard&#8217;s allegations, according to a Bloomberg report.<\/p>\n<p>The hedge fund allegedly withdrew\u00a0 its account less than four months before Madoff&#8217;s December 2008 arrest.<\/p>\n<p>The judgment applies to the hedge fund&#8217;s affiliates as well,\u00a0 Zeus Partners Ltd., Siam Capital Management and the Asphalia Fund Ltd.<\/p>\n<p>&#8220;Picard has already recovered more than $1.5 billion for Madoff victims. His is after another $15 billion from funds that funneled money to the fraud, as well as Madoff\u2019s friends and family,&#8221; Bloomberg said.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; Hedge fund Vizcaya Partners Ltd., have been ordered to pay $180 million to Irving Picard, a trustee for Bernard Madoff\u2019s investment-advisory business by Judge Burton Lifland in Manhattan Bankruptcy Court. The judge said that the hedge [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,12,3],"tags":[],"class_list":["post-17133","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=17133"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17133\/revisions"}],"predecessor-version":[{"id":17142,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17133\/revisions\/17142"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=17133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=17133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=17133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}