Press Release: SIPC : Madoff Trustee Reaches Recovery Agreement With Kingate Funds

Press release from the offices of Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), and Josephine Wang, President and Chief Executive Officer of the Securities Investor Protection Corporation (SIPC) Irving H. Picard, Securities Investor Protection Act (SIPA) Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), filed a motion today in the United States Bankruptcy Court for the Southern District of New York, seeking approval of a recovery agreement with Kingate Global Fund, Ltd. and Kingate Euro Fund, Ltd. (the "Kingate Funds"), by Paul Pretlove, Tammy Fu and John C. McKenna, in their capacity as Joint Liquidators of the Kingate Funds. An approval hearing for the agreement has been set for August 8, 2019 at 10:00 a.m.