Madoff Securities Task Force Update: March 4, 2009 Deadline

Client Advisory

January 8, 2009by Steven J. Glusband, Howard J. Barnet, Jr., Faith Colish, Michael I. Frankel, James Gadsden, Guy P. Lander, Patricia Matzye, Gary D. Sesser, Michael Shapiro, Morris Simkin, Andris J. Vizbaras and Robert J.A. Zito

On January 2, 2009, SIPC Trustee Irving H. Picard mailed customer claim forms to persons who are believed to have been customers of Bernard L. Madoff Investment Securities LLC (“BMIS”) within the past 12 months. However, any person who believes that he or she was a customer of BMIS may file a claim. Claim forms are available on the Trustee’s website www.madofftrustee.com as well as the SIPC website www.sipc.org.

March 4, 2009 is the deadline set by the Bankruptcy Court for filing customer claims with the Trustee. July 2, 2009 is the deadline set by the law for all claims. Customer claims received after March 4, but before July 2, are subject to delayed processing and to being satisfied on terms less favorable to the customer. Claims received after July 2 are barred by law. Claim forms should be filed with the Trustee by mailing such to:Irving H. Picard, Esq.Trustee for Bernard L. Madoff Investment Securities LLCClaims Processing Center2100 McKinney Avenue, Suite 800Dallas, TX 75201Claim forms will be deemed filed only when received by the Trustee. Claim forms should be mailed certified mail, return receipt requested. The return receipt would be proof of receipt by the Trustee.If you have any questions about the Madoff case, or how it affects you, or if you require assistance in preparing a claim, please contact your CL&M attorney or: