Bernard Madoff‘s investors aren’t entitled to interest or other damages on money they lost by investing in what was later revealed to be the biggest Ponzi scheme of all time, a bankruptcy judge has ruled. The decision on Tuesday by Judge Burton R. Lifland of the U.S. Bankruptcy Court in Manhattan represents a big step toward freeing up $1.36 billion in recovered investor funds that are sitting in a bank account awaiting resolution of the battle over whether such damages are allowed. The funds won’t be paid out right away, as investors who advocated such damages may appeal the bankruptcy judge’s ruling. More in the Wall Street Journal here.
