Madoff Trustee Asks $50 Million for Work July 1-Nov. 30
By Linda Sandler – Apr 30, 2013 8:54 AM ET
The liquidator of Bernard Madoff’s firm asked a judge to approve $50 million of fees and expenses for his law firm’s work from July 1 through Nov. 30, according to a federal court filing in Manhattan.
Irving Picard and his firm, Baker & Hostetler LLP, will have charged total fees and expenses of about $440 million since the confidence man’s December 2008 arrest, according to court filings. The Securities Investor Protection Corp., which runs an insurance fund to compensate investors for losses, pays the law firm’s bills.
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