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Bankruptcy

Judge OKs pay to Madoff trustee

August 07, 2009|Times Wire Reports

The trustee liquidating Bernard Madoff's investment company won court approval of a $14.7-million bill for four months' work by his law firm, overcoming challenges from victims.

The payment to trustee Irving Picard and his firm, Baker & Hostetler, was approved by U.S. Bankruptcy Judge Burton Lifland in New York.

Some victims argued that Picard wasn't paying Madoff clients fast enough and was wasting money that should go to them.

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