Consolidating company liquidation

Posted by / 24-Oct-2017 18:11

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Madoff Investment Securities LLC (BLMIS) liquidation, the Securities Investor Protection Corporation (SIPC) has made cash advances – up to a maximum of 0,000 per allowed claim – available to the court-appointed Securities Investor Protection Act (SIPA) Trustee to distribute to eligible customers, as a way to expedite financial relief to these customers.

As of August 4, 2017, SIPC has committed approximately 1 million to the BLMIS liquidation for this purpose.

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Companies will need to reevaluate all variable interests they have in legal entities.