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Madoff, European Directories, Vinashin, A-Tec, ECM: Bankruptcy

Union Bancaire Privee, a private Swiss bank accused of profiting from Bernard Madoff’s fraud, agreed to pay as much as $500 million to settle claims by the trustee liquidating the convicted Ponzi scheme operator’s bankrupt investment firm.

Under the settlement, which must be approved by a bankruptcy judge, UBP will pay $470 million to benefit Madoff’s victims. The accord provides for an additional payment of as much as $30 million, according to court papers.