Madoff Trustee Seeks $61.7 Million in Fees

Irving Picard, who this year returned $2.4 billion to Bernard L. Madoff’s cheated investors, is seeking bankruptcy-court approval of $61.7 million in fees for himself and his law firm. Mr. Picard, who has overseen the winding down of Mr. Madoff’s firm for the past four years, and his law firm of Baker & Hostetler LLP have charged $61.7 million for 179,055 hours of work performed between Feb. 1 and June 30, court papers show. They are also seeking reimbursement of $1 million in expenses. More in the Wall Street Journal here.