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Fortress Credit Buys $2 Billion in Madoff Claims From Rye Fund

Nov. 8 (Bloomberg) -- Fortress Credit Corp. bought more than $2 billion in claims on Bernard L. Madoff’s defunct brokerage from Rye Select Broad Market Fund LP, according to filings in federal court in Manhattan.

Rye, which settled a lawsuit by the Madoff trustee related to the Ponzi scheme, also assigned unspecified additional amounts of each of the two claims to Fortress that it was granted under the settlement agreement, the filings said. Many Madoff claims that trade are recorded in court with the parties’ names blacked out.

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To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Charles Carter at ccarter12@bloomberg.net

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