The trustee seeking money for victims of Bernard L. Madoff’s multibillion-dollar Ponzi scheme was barred on Monday from blocking a $410 million settlement resolving New York State’s claims against a hedge fund manager, J. Ezra Merkin, who was accused of secretly steering client money to Mr. Madoff. The trustee, Irving H. Picard, had contended that the settlement with New York’s attorney general, Eric T. Schneiderman, interfered with his exclusive right to seek money for Mr. Madoff’s victims. More in the New York Times here.
