Speculators Chase Madoff Deals

December 14th, 2010
in News, Banking

 DealBook (NY Times):  An archane breed of speculator has been buying up rights to Madoff liquidation torte payouts to victims.

Follow up:

Speculators who are specialists in beaten-down assets known as distressed securities are offering to buy the claims of plaintiffs immediately for cash, but at a sharp discount from their face value.  With the recent publicity about more than $40 billion in filed claims, the activity of the speculators has really picked up.  Some of those who feel unsure of how the litigation might turn out or who can not wait for the many years it might take to see the restitution are likely marks for the speculators.  

Read more.....

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