Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On November 19, 2014, the United States Bankruptcy Court for the Southern District of New York approved a settlement between the SIPA Trustee and the defendants in Picard v. Edward Blumenfeld, et al. The settlement motion was filed with the United States Bankruptcy Court for the Southern District of New York on October 17, 2014. The agreement has an aggregate potential value of approximately $62 million for the BLMIS Customer Fund. Under the agreement, the Blumenfeld defendants agreed to make an immediate payment of $32.75 million to the BLMIS Customer Fund for the benefit of BLMIS customers with allowed claims. The Blumenfeld defendants also agreed to transfer their customer claims in the Madoff SIPA liquidation, totaling approximately $29.35 million, to the SIPA Trustee. Since the customer claims were immediately entitled to the four interim pro rata distributions that had been made to date, plus up to the $500,000 SIPC advance each, the BLMIS Customer Fund immediately benefitted by an additional $17.7 million, making the total payment at the time of the settlement agreement approximately $50.47 million. An additional $6.65 million has been paid to the BLMIS Customer Fund as a result of the fifth through fifteenth pro rata distributions, which commenced on February 6, 2015 through February 23, 2024, bringing the total recoveries under the Blumenfeld settlement to approximately $57.12 million. The SIPA Trustee could capture up to an additional $4.98 million from future pro rata distributions on the transferred claims for the benefit of BLMIS customers with allowed claims.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On June 1, 2012, the United States District Court for the Southern District of New York approved a $162 million settlement agreement between the SIPA Trustee and Saul B. Katz, et al (“KW Settling Parties”). The 2012 agreement between the two parties allows the BLMIS Customer Fund to recoup six years of fictitious profits. Under terms of the settlement, the KW Settling Parties’ allowed claims of approximately $177 million (BLMIS accounts in which the KW Settling Parties had deposited more money than they had withdrawn – their “net loser” accounts) were unconditionally assigned to the SIPA Trustee until the $162 million settlement amount is reached. Distributions made on the allowed claims assigned to the SIPA Trustee were added to the BLMIS Customer Fund to reduce the amount owed by the KW Settling Parties. On September 28, 2012 through December 4, 2015, a total of $100.767 million was paid to the BLMIS Customer Fund as a result of the first through sixth pro rata distributions.

In the spring of 2016, the KW Settling Parties requested a modification to the June 1, 2012 Settlement Agreement, asking that payments owed to the SIPA Trustee in 2016 and 2017 be extended over a longer period of time in exchange for interest payments, while efforts continue on the part of the SIPA Trustee and his legal team to recover monies that can and will be used to offset those payments through future pro rata interim distributions. The SIPA Trustee agreed to those modifications. (For the full May 31, 2016 statement on the revised agreement, please click here.) As a result of the first through twelfth pro rata distributions the SIPA Trustee made on the account of Katz Wilpon assigned customer claims totaling $123.34 million, in addition to five installment payments totaling $40.88 million, a total of $164.221 million in recoveries has been added to the Customer Fund for the benefit of BLMIS customers with allowed claims.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On November 19, 2016, the United States Bankruptcy Court for the Southern District of New York approved a global settlement – made in cooperation with the California Attorney General -with the defendants in Picard v. the Estate of Stanley Chais, et al. The agreement was made with the Stanley Chais estate, Chais’s widow, and a number of Chais family members, investment funds, trusts, companies, and other entities associated with Chais. Under the terms of the agreement, the BLMIS Customer Fund has received payments totaling $261.45 million through August 24, 2020, in addition to the assignment of other assets that will be liquidated over time. All proceeds of the settlement will go to the BLMIS Customer Fund for the benefit of BLMIS customers with allowed claims.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On August 6, 2019, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with Kingate Global Fund, Ltd. and Kingate Euro Fund, Ltd. The settlement benefits the BLMIS Customer Fund by $860 million.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On July 3, 2018, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with Ascot Partners, Ascot Fund, J. Ezra Merkin, and Gabriel Capital Corporation that benefits the BLMIS Customer Fund by $281 million.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On March 27, 2018, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with Alpha Prime Fund Ltd., a BLMIS feeder fund incorporated under Bermuda law. Through this settlement, the SIPA Trustee will recover $76.45 million, representing 100 percent of the transfers Alpha Prime received from BLMIS in the two years preceding the commencement of BLMIS’s SIPA proceeding.

On March 26, 2018, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with American Securities Management, L.P., f/k/a/ American Securities, L.P.; PJ Associates Group, L.P., d/b/a PJ Administrator, L.L.C.; and PJ Administrator, L.L.C., f/k/a PJ Associates Group, L.P, amongst others. The settlement benefits the BLMIS Customer Fund by approximately $18.5 million.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On October 19, 2017, the United States Bankruptcy Court for the Southern District of New York signed an order approving a recovery agreement with Ireland-based Thema International Fund plc (“Thema International”). Under the terms of the agreement, Thema International will pay approximately $687 million to the BLMIS Customer Fund for ultimate distribution to BLMIS customers with allowed claims.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On July 24, 2017, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with Thema Fund Limited (“Thema Fund”) and Thema Wise Investments Ltd. (“Thema Wise”; together, the “Thema Defendants”). The Thema funds are based in BVI. Under the terms of the agreement, Thema Wise will pay approximately $130 million to the BLMIS Customer Fund for ultimate distribution to BLMIS customers with allowed claims.

On July 24, 2017, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with Lagoon Investment Limited (“Lagoon”), Hermes International Fund Limited (“Hermes”), and Lagoon Investment Trust (“Lagoon Trust”; together, the “Lagoon Defendants”). Lagoon is a BVI corporation that was the BLMIS account holder through which Hermes and Lagoon Trust invested with BLMIS. Under the terms of the agreements with the Lagoon and Thema Defendants, Lagoon will pay approximately $240 million to the BLMIS Customer Fund for ultimate distribution to BLMIS customers with allowed claims.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure, including the settlement with estates of Madoff’s sons, announced on June 26, 2017; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On January 26, 2016, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with Vizcaya Partners Limited, Asphalia Fund Limited, and Zeus Partners Limited. The settlement will benefit the BLMIS Customer Fund by approximately $25 million.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On November 17, 2015, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement with Thybo Asset Management Limited and Thybo Stable Fund Ltd. The settlement will benefit the BLMIS Customer Fund by approximately $46.6 million. The payment amount reflects 75 percent of the $62 million withdrawn by the defendants within the six-year period prior to the BLMIS liquidation filing date, and also reflects an adjustment based on the recovery received by the SIPA Trustee as a result of his settlement with the Internal Revenue Service.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On July 29, 2015, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement between the SIPA Trustee and Plaza Investments International Limited and Notz, Stucki Management (Bermuda) Limited (collectively, "Plaza"). Under the agreement, Plaza agreed to make a payment of $140 million to immediately benefit the BLMIS Customer Fund. This payment represents approximately 60 percent of the amount transferred from BLMIS to Plaza during the six-year period prior to the BLMIS liquidation filing and also includes 100 percent of the preference and transfers from BLMIS to the Plaza defendants that occurred within two years of the BLMIS liquidation filing.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On June 23, 2015, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement between the SIPA Trustee and Bart M. Schwartz, the court-appointed Receiver for Ariel Fund Limited and Gabriel Capital, L.P. The agreement with Ariel Fund will immediately benefit the BLMIS Customer Fund by approximately $18 million, and the settlement with Gabriel Capital, L.P. will immediately benefit the BLMIS Customer Fund by approximately $17.4 million. These payments by Ariel Fund Limited and Gabriel Capital, L.P. represent 100 percent of the amount transferred from BLMIS to the funds.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On April 16, 2015, the United States Bankruptcy Court for the Southern District of New York approved a recovery agreement between the SIPA Trustee and Defender Limited and related entities. Defender was a Madoff feeder fund that deposited its assets with BLMIS. Under the terms of the agreement, the BLMIS Customer Fund will benefit by $93 million, representing 100 percent of the fraudulent transfers and preference payments which the SIPA Trustee sought to recover from Defender. The settlement agreement was also structured to further the SIPA Trustee’s avoidance and recovery efforts through additional discovery in other adversary proceedings in which the SIPA Trustee is seeking to recover more than a half-billion dollars of customer property.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On December 17, 2014, the United States Bankruptcy Court for the Southern District of New York approved the SIPA Trustee’s settlement with Herald Fund SPC and Primeo Fund, two feeder funds primarily invested in BLMIS. Under the terms of the agreement, the settlement will benefit the BLMIS Customer Fund by approximately $497 million.

On December 17, 2014, the United States Bankruptcy Court for the Southern District of New York approved the SIPA Trustee’s settlement with Senator Fund SPC, a Cayman Islands incorporated investment fund invested exclusively with BLMIS. Under the terms of the agreement, the settlement will benefit the BLMIS Customer Fund by $95 million. The agreement with Senator represents 100 percent of the principal withdrawals by Senator from BLMIS.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On February 4, 2014, the United States Bankruptcy Court for the Southern District of New York approved two agreements totaling approximately $543 million for the benefit of BLMIS customers. The agreements settled avoidance claims asserted by the SIPA Trustee against JPMorgan for $325 million, as well as common law claims brought separately by the SIPA Trustee and in a class action lawsuit, which mirrored the claims developed by the SIPA Trustee’s legal team, for $218 million. Of the $325 million that JPMC will pay to the SIPA Trustee, $50 million will be given to the joint liquidators of the Fairfield Sentry Funds for distribution to the indirect investors in the Fairfield Sentry Funds, as part of the cooperative agreement reached in May 2011 to share a percentage of certain future recoveries. On March 25, 2014, the SIPA Trustee filed a motion for an order approving a fourth allocation of property to the Customer Fund and requesting approval to authorize a fourth interim distribution to BLMIS customers with allowed claims. In that filing, the SIPA Trustee sought approval from the United States Bankruptcy Court to allocate a net amount of $275 million from the JPMC settlement to the BLMIS Customer Fund. Bankruptcy Court approval for the fourth pro rata interim distribution was granted on April 18, 2014, following the April 17, 2014 hearing in the United States Bankruptcy Court, and the distribution commenced on May 5, 2014.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On September 17, 2013, United States Bankruptcy Court for the Southern District of New York approved the $97.8 million settlement with the Maxam Absolute Return Fund L.P. and other related funds and entities, including Sandra L. Manzke and members of her family (collectively, the Maxam Defendants). The settlement represents the recovery of 100 percent of the Maxam Defendants’ withdrawals from BLMIS. In addition, the settlement benefits the indirect investors in Maxam. A claim totaling more than $276 million will be allowed, comprised of Maxam’s net equity claim of approximately $215 million plus approximately $61 million representing only half of the non-preference claim – a significant discount negotiated by the SIPA Trustee. In addition, the Manzke family trust will waive 50 percent of its right to any future distributions of funds received by Maxam as a result of its allowed customer claim.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On January 6, 2011, the United States Bankruptcy Court for the Southern District of New York approved a pre-litigation settlement between the SIPA Trustee and Union Bancaire Privée that resulted in the recovery of $470 million. Under the settlement, under certain conditions the Trustee was entitled to an additional $49 million from UBP or other entities. On August 8, 2013, UBP paid $30 million dollars and the non-UBP related entities paid $19 million.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On December 4, 2012, the United States District Court for the Southern District of New York approved a settlement agreement between the Securities Investor Protection Act (SIPA) Trustee and individuals, feeder funds and entities related to, among others, the Beacon Associates Management Corporation, Andover Associates Management Corporation and Ivy Asset Management. Under the terms of the settlement, the defendants made a $24 million payment to the Bernard L. Madoff Investment Securities LLC (BLMIS) Customer Fund, which represents a return of 100 percent of the defendants’ withdrawals from BLMIS during the six-year period prior to the commencement of the liquidation of BLMIS, plus additional recoveries for direct withdrawals and subsequent transfers made to various defendants. In addition, the defendants, who acted as feeder fund managers, advisors and/or consultants in one or more BLMIS feeder funds, will forego all fees otherwise due to them that would be paid out of distributions by the BLMIS estate.

On June 7, 2011, the United States Bankruptcy Court for the Southern District of New York approved a settlement agreement between the SIPA Trustee and the Joint Liquidators of Fairfield Sentry Limited, Fairfield Sigma Limited and Fairfield Lambda Limited (collectively, the Fairfield Funds). Terms of the settlement include an immediate and permanent reduction – of $730 million – in the total amount of claims against the BLMIS Customer Fund by the Fairfield Funds, which would effectively increase future payments to customers with allowed claims. In addition, the settlement agreement aligned the interests of the SIPA Trustee and his counsel with the Joint Liquidators of Fairfield Sentry, strengthening both parties’ abilities to pursue and recover additional claims against the owners and management of the Fairfield Funds, as well as hundreds of subsequent transferees of customer property. The Joint Liquidators also agreed to make a $70 million payment to the SIPA Trustee with an initial payment of $24 million which has been paid by an $8 million offset of funds owed to the Fairfield Joint Liquidators and a $16 million cash payment by the Liquidators to the BLMIS Customer Fund. The remaining $46 million was paid to the SIPA Trustee on November 28, 2012.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On May 15, 2012, the United States Bankruptcy Court for the Southern District of New York approved a settlement agreement between the SIPA Trustee and Trotanoy Investment Company, Ltd. (Trotanoy), a Bailiwick of Guernsey limited liability company. The settlement with Trotanoy resulted in a $28.96 million cash settlement payment to the Customer Fund, representing a return of 100 percent of Trotanoy’s withdrawals during the 90-day preference period.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On December 21, 2011, a $326 million settlement with the United States of America, on behalf of the Internal Revenue Service, was approved by the United States Bankruptcy Court for the Southern District of New York. The SIPA Trustee determined that BLMIS falsely debited the accounts of 126 foreign account holders for alleged U.S. federal income tax withholding and paid to the IRS amounts withheld related to alleged dividends. Because no securities were purchased and thus no dividends were actually ever received by BLMIS, no amounts should have been withheld and transferred to the IRS. After receipt of the settlement payment, the specific accounts were credited for the amounts transferred from 2002 – 2008 and, where appropriate, a catch up pro rata interim distribution of 4.602 percent for the credited amount has been made. On March 25, 2014, the SIPA Trustee filed a motion for an order approving a fourth allocation of property to the Customer Fund and requesting approval to authorize a fourth interim distribution to BLMIS customers with allowed claims. In that filing, the SIPA Trustee indicated that he has removed the $103 million in reserve that was set aside since December 21, 2011, when the IRS settlement became final. The IRS settlement authorized the SIPA Trustee to release the reserve two years and sixty days after the order approving the settlement agreement became final. The fourth pro rata interim distribution was approved by the Court and commenced on May 5, 2014.

On October 4, 2011, the United States Bankruptcy Court for the Southern District of New York approved a settlement with Mount Capital Fund, a BLMIS feeder fund in liquidation in the British Virgin Islands, which returned $43.5 million to the BLMIS Customer Fund.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On July 28, 2011, the SIPA Trustee announced a settlement with Tremont Group Holdings Inc. and related entities under the terms of which the defendants will deliver cash payments into escrow totaling $1.025 billion, which will ultimately be placed into the Customer Fund and distributed, pro rata, to BLMIS customers with allowed claims. On September 22, 2011, the agreement was approved by the United States Bankruptcy Court for the Southern District of New York, but was appealed by third-party appellants. On June 27, 2012, the Honorable Judge Daniels of the United States District Court for the Southern District of New York granted the SIPA Trustee’s motion to dismiss the appeal. On July 26, 2012, a notice of appeal of the District Court decision was filed by the third-party appellants. The appeal was dismissed by the United States Court of Appeals for the Second Circuit on October 25, 2012. Under the settlement agreement, the $1.025 billion recovered for the BLMIS Customer Fund was placed in escrow for 90 days from the closing date of November 6, 2012. On February 8, 2013, the $1.025 billion was released to the SIPA Trustee for the BLMIS Customer Fund.

On May 9, 2011, a settlement agreement was announced with the Joint Liquidators of Fairfield Sentry Limited, Fairfield Sigma Limited and Fairfield Lambda Limited (collectively, the Fairfield Funds). Terms of the settlement include an immediate and permanent reduction – of $730 million – in the total amount of claims against the BLMIS Customer Fund by the Fairfield Funds, which would effectively increase future payments to customers with allowed claims. In addition, the settlement agreement aligned the interests of the SIPA Trustee and his counsel with the Joint Liquidators of Fairfield Sentry, strengthening both parties’ abilities to pursue and recover additional claims against the owners and management of the Fairfield Funds, as well as hundreds of subsequent transferees of customer property. The Joint Liquidators also agreed to make a $70 million payment to the SIPA Trustee with an initial payment of $24 million which has been paid by an $8 million offset of funds owed to the Fairfield Joint Liquidators and a $16 million cash payment by the Liquidators to the BLMIS Customer Fund. The United States Bankruptcy Court for the Southern District of New York approved this settlement agreement on June 7, 2011.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On March 10, 2011, the United States Bankruptcy Court for the Southern District of New York approved a settlement between the SIPA Trustee and Hadassah in the amount of $45 million. On or about March 28, 2011, Hadassah transferred $45 million to the SIPA Trustee.

On January 13, 2011, the United States Bankruptcy Court for the Southern District of New York approved the SIPA Trustee’s $5 billion settlement with the estate of Jeffry Picower. This decision was appealed to the United States District Court for the Southern District of New York, which affirmed the decision of the Bankruptcy Court on March 26, 2012. Notices of appeal on the District Court’s order to the United States Court of Appeals for the Second Circuit were filed on April 24, 2012.

On July 16, 2012, the deadline for further appeals of the approximately $7.2 billion Picower forfeiture to the United States Government expired, making the forfeiture order final. Under the settlement agreement, the $5 billion settlement payment was then released to the SIPA Trustee.

On January 6, 2011, the United States Bankruptcy Court for the Southern District of New York approved a pre-litigation settlement between the SIPA Trustee and Union Bancaire Privée that resulted in the recovery of $470 million. Under the settlement, under certain conditions the Trustee was entitled to an additional $49 million from UBP or other entities. On August 8, 2013, UBP paid $30 million dollars and the non-UBP related entities paid $19 million.

On December 21, 2010, the United States Bankruptcy Court for the Southern District of New York approved a pre-litigation settlement between the SIPA Trustee and Carl Shapiro, Robert Jaffe, and related entities in the amount of $550 million. On or about December 23, 2010, the Shapiros transferred $550 million to the SIPA Trustee. As part of the agreement, the Shapiros also forfeit $75 million to the U.S. government.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On February 18, 2010, the United States Bankruptcy Court for the Southern District of New York approved a pre-litigation settlement between the SIPA Trustee and the estate of Norman F. Levy. This settlement resulted in the return of $220 million (the Norman Levy Settlement). Certain customers moved to set aside the Court’s order approving the Norman Levy settlement. The Bankruptcy Court denied the motion, and the claimants filed an appeal in United States District Court on April 11, 2011. On February 16, 2012, the District Court upheld the Bankruptcy Court’s earlier ruling approving the SIPA Trustee's settlement with the Levy family. The District Court’s ruling was appealed to the United States Court of Appeals for the Second Circuit, which affirmed the judgment of the District Court. On March 21, 2013, the period to challenge the Circuit Court’s ruling expired and the settlement became final, and unappealable. The $220 million was included in the Customer Fund and the SIPA Trustee requested its inclusion in the fourth interim distribution to BLMIS customers with allowed claims. The fourth pro rata interim distribution was approved by the Court and commenced on May 5, 2014. 

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.

On June 16, 2009, the United States Bankruptcy Court for the Southern District of New York approved a pre-litigation settlement between the SIPA Trustee and Optimal Strategic U.S. Equity Ltd. and Optimal Arbitrage Ltd. This settlement resulted in the return of over $235 million.

Litigation recoveries and other recoveries may include, but are not limited to: Recovery agreements of less than $20 million which are not subject to public disclosure; transfers from debtor’s estate (securities, bank account, interest and dividends, closeout proceeds); sale of debtor’s assets (sports tickets, bank debt participation, market making business); administrative subtenant rent revenue; refunds (BLM Air Charter, deposits, dues/subscriptions, vendors, insurance/workers comp, political contributions); recoveries (donation settlements, vendor preferences, employees, taxing authorities, class actions, NASDAQ, NYSE, transaction fees); earnings on SIPA Trustee's investments; interest on SIPA Trustee's savings accounts.