The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Will Madoff Trustee Lawsuit Have an Impact on Pioneer's Sale? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 15, 2010

Will Madoff Trustee Lawsuit Have an Impact on Pioneer's Sale?

News summary by MFWire's editors

Last Friday, Irving Picard, the trustee liquidating Bernie Madoff's investment firm, launched a $19.6 billion lawsuit against Pioneer Global Asset Management SpA, its parent UniCredit and four others. Unicredit's plans to sell Pioneer "may hit a snag" in the wake of the filing of Picard's lawsuit, Bloomberg reported on Sunday.

Besides Pioneer and UniCredit, Picard is suing ex-UniCredit CEO Alessandro Profumo, Bank Austria, Bank Medici AG and Bank Medici's founder, Sonja Kohn. Picard wants $19.6 billion to compensate people who were victimized by Madoff's scheme, according to the report.

Bloomberg quoted a statement UniCredit issued on behalf of itself, Pioneer and Bank Austria saying they will fight the complaint.

Back in January 2009, UniCredit said clients had placed $1.1 billion in funds run by Madoff via Pioneer Alternative Investments.  

Edited by: Armie Margaret Lee

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use