Madoff judge asks Gibraltar to hand over $73.1 mln | Reuters

Madoff judge asks Gibraltar to hand over $73.1 mln | Reuters: "U.S. judge overseeing the liquidation of Bernard Madoff's investment firm has asked Gibraltar's supreme court to transfer $73.1 million so it may be used to compensate victims of the imprisoned Ponzi schemer.
In a letter dated Monday, U.S. Bankruptcy Judge Burton Lifland said the money would be used to partially satisfy a $180 million default judgment entered on Aug. 3 against the Vizcaya Partners Ltd hedge fund and other defendants.
In an April 2009 lawsuit, Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, accused Vizcaya of profiting improperly from Madoff's fraud.
Lifland entered the judgment against Vizcaya after the British Virgin Islands-based fund failed to plead its case or otherwise respond properly to Picard's complaint.
The judgment also applies to three other entities: Asphalia Fund Ltd, Siam capital Management and Zeus Partners Ltd."