Law & Health Weekly
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Baker Hostetler
Madoff Trustee to Sell Market Making Business for Up to $15.5 Million
April 18th, 2009
Irving H. Picard, the SIPA Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC ("BLMIS"), announced a definitive agreement for Castor Pollux Securities, LLC ("Castor Pollux") to act as the "stalking horse" bidder for the acquisition of the assets related to the market making business of BLMIS. Castor Pollux is a Boston-based broker-dealer. "This agreement is a successful outcome of the broadly-marketed sales process we started in December," said Mr. Picard. Under the terms of the agreement, Castor Pollux will acquire the infrastructure assets and intellectual property related to the market making business of BLMIS. The sale...
Source: Law & Health Weekly (2009-04-18)
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