Madoff Trustee’s $14.7 Million Fee Request Approved

Bloomberg 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 LLP, was approved today by U.S. Bankruptcy Judge Burton Lifland in New York. Some victims argued Picard isn’t paying Madoff clients fast enough and is wasting money that should go to them.