BUSINESS BRIEFING / COURTS
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Separate efforts to sell the business and personal property of financier Bernard Madoff have been combined to speed the process and get more of the proceeds to those he cheated.
A U.S. bankruptcy judge consolidated a bankruptcy case involving Madoff’s personal assets with a court-appointed trustee’s case aimed at liquidating his business.
A lawyer for the trustee argued that Madoff’s personal holdings and those of his firm were “hopelessly intertwined” and that consolidation would reduce the time and expense of paying claims from investors.
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