Statement From Irving H. Picard, the Court-Appointed Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC
NEW YORK, May 8 /PRNewswire/ -- In recognition of hardship situations confronted by many of the customers of Bernard L. Madoff Investment Securities LLC ("BLMIS"), Irving H. Picard, the Trustee for the liquidation of BLMIS, has today announced a hardship program designed to identify individual cases of hardship and once identified, Mr. Picard will work with the individual to review and determine the claim on an expedited basis. The full details of the hardship program have been posted on the Trustee's website, www.madofftrustee.com, which sets forth the criteria for those who are seeking hardship consideration, as well as the procedures the Trustee will engage in order to consider each of the cases on an expedited basis. The website also contains the form that must be filled out by the individual to be considered for the hardship program. It is the intention of the Trustee to make available to those customers the SIPC advance up to $500,000. Mr. Picard worked with attorneys for a number of customers to develop the hardship program.
