The Daily Docket: Madoff Trustee Seeks $322 Million Payment

Just in time for the holidays, Bernard Madoff ’s cheated investors are slated to receive another $322 million, bringing their total payments to $7.2 billion in the six years since the exposure of Mr. Madoff’s massive Ponzi scheme. The Wall Street Journal has the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

The Trump Taj Mahal will remain in operation through Christmas and into the New Year, due to a $20 million loan from secured lender Carl Icahn, a lawyer for the casino operator said Monday, DBR reports in WSJ.

According to the Detroit News, a state board in Michigan set in motion a $194.8 million payment to Detroit’s pension funds.

Newark Watershed Conservation and Development Corp. trustees voted to file for bankruptcy, NJ.com reports.

According to the Detroit Free Press, the law firm that represented retirees of the city of Detroit in its Chapter 9 case plans to donate $500,000 to the city’s fire department.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa