A recent NLJ story, “Madoff Judge Awards Another $25 Million in Fees” reports that a federal judge has awarded trustee Irving H. Picard and his team of lawyers liquidating Bernie Madoff’s investment firm $24.6 million in interim attorney fees.  Southern District of New York Bankruptcy Judge Burton Lifand awarded about $627,000 in fees to Picard and $23.9 million in fees to Baker & Hostetler for October through January 31.  All told, the judge has awarded Picard and his team about $62 million in attorney fees.

Last month, Picard reported that “notwithstanding the monumental and unprecedented task faced by the Trustee, substantial progress” has been made in “reviewing and determining customer claims.”  However, he has come under fire from many investors who have protested his “cash-in/cash-out” approach to calculating claims.  As of April 30, Picard has allowed 2,061 of 12,453 claims, and the Securities Investor Protection Act had committed some $682 million in funds to satisfy customer claims.