RCB FUND SERVICES

MVF started with a relatively small amount of funds given the vast scale of victim losses. Therefore, the MVF Plan of Distribution structured the payment process so that MVF used its funds to build on the recoveries, if any, that victims had already received or that they had reasonably available. In practice, roughly half of the 40,000-plus victims receiving payments from MVF had little if any recoveries from any outside source other than MVF. For those victims, we have provided either 100%, or virtually all, of their recoveries. For the other half of victims who have been paid by MVF, we have generally provided a significant majority of total recoveries, though in varying proportions depending on what each victim had previously received. Importantly, however, MVF brings each eligible victim to a minimum recovery percentage from all sources except where in a limited number of cases we have had to adjust for pending litigation and uncertain collateral recoveries... The Madoff Victim..

Also known as: Madoff Victim Fund, RCB Fund Services, LLC

Primary location: East Syracuse United States