{"id":30056,"date":"2012-07-12T06:30:18","date_gmt":"2012-07-12T10:30:18","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=30056"},"modified":"2012-07-12T06:51:10","modified_gmt":"2012-07-12T10:51:10","slug":"ny-supreme-court-approves-distributions-of-more-than-110-million-to-madoff-related-hedge-fund-victims","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2012\/ny-supreme-court-approves-distributions-of-more-than-110-million-to-madoff-related-hedge-fund-victims.html","title":{"rendered":"NY Supreme Court Approves Distribution Of More Than $110 Million To Madoff-related Hedge Fund Victims"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/07\/moses_ny_supreme_court.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-30060\" title=\"moses_ny_supreme_court\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/07\/moses_ny_supreme_court.jpg\" alt=\"\" width=\"224\" height=\"224\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/07\/moses_ny_supreme_court.jpg 320w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/07\/moses_ny_supreme_court-150x150.jpg 150w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/07\/moses_ny_supreme_court-300x300.jpg 300w\" sizes=\"auto, (max-width: 224px) 100vw, 224px\" \/><\/a>New York (HedgeCo.Net) &#8211; As the Receiver for Ezra Merkin\u2019s\u00a0two Madoff-related hedge\u00a0funds, Gabriel Capital L.P. and Ariel Fund Ltd., hedge fund lawyer Bart M. Schwartz announced today his third round of interim distributions of more than $110 million of cash investments (bringing total recoveries to more than $500 million), to investors who suffered losses through the funds.<\/p>\n<p>&#8220;My team and I will continue in our efforts to maximize overall returns to investors, including through prudent, value-preserving liquidation of the funds\u2019 remaining assets, and through pursuing additional recoveries.&#8221; Schwartz said. &#8220;We continue to make good progress in our ongoing value realization efforts, and we will seek Court approval for further interim distributions at the earliest prudently feasible date.&#8221;<\/p>\n<p>The $500 million payback from the two Merkin funds may be the largest distribution to injured investors so far in the Bernie Madoff Ponzi scheme. Payments of the $110 million in this third distribution by Schwartz will be sent to all investors in the hedge funds, generally for delivery within the next 10 business days.<\/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; As the Receiver for Ezra Merkin\u2019s\u00a0two Madoff-related hedge\u00a0funds, Gabriel Capital L.P. and Ariel Fund Ltd., hedge fund lawyer Bart M. Schwartz announced today his third round of interim distributions of more than $110 million of cash [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,11,16034,3],"tags":[],"class_list":["post-30056","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedge-fund-fraud","category-hedge-fund-rulings","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30056","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=30056"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30056\/revisions"}],"predecessor-version":[{"id":30059,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30056\/revisions\/30059"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=30056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=30056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=30056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}