• Home
  • About
    • About
    • Policies
  • Submissions
    • Op-eds
    • News / Announcements
  • Contact
  • Donate
  • Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer

eJewish Philanthropy

Your Jewish Philanthropy Resource

  • News Bits
  • Jewish Education
  • Readers Forum
  • Research
  • Show Search
Hide Search
You are here: Home / In the Media / AJCongress to Settle with Madoff Trustee

AJCongress to Settle with Madoff Trustee

December 10, 2010 By eJP

The American Jewish Congress is apparently in settlement discussions with the court-appointed trustee in the Madoff bankruptcy case.

In court documents filed yesterday, both the American Jewish Congress and Hadassah, the Women’s Zionist Organization of America, Inc., agreed to waive the December 11, 2010 deadline for the bankruptcy trustee to file suit in order to allow deals to be reached by the charities’ boards. Also yesterday, Hadassah’s board agreed to a settlement.

According to Bruce Buechler, the attorney representing AJCongress, “We are in the final stages of hopefully reaching an agreement. The reality is we have a deal in place with Picard’s people. Simply put, we just need a little more time to get our boards’ approval.”

AJCongress, which pretty much closed up back in July, had previously stated they lost $21 million of their $24 million endowment in the collapse of Madoff’s firm. One must wonder how they will actually pay any settlement arrangement.

While the next few hours are expected to be busy with court filings, perhaps there are others with whom discussions are underway that have also waived the deadline. Only time will tell.

Print Friendly, PDF & Email

Filed Under: In the Media Tagged With: Hadassah / Hadassah Foundation

Click here to Email This Post Email This Post to friends or colleagues!

Reader Interactions

Primary Sidebar

Join The Conversation

What's the best way to follow important issues affecting the Jewish philanthropic world? Our Daily Update keeps you on top of the latest news, trends and opinions shaping the landscape, providing an invaluable source for inspiration and learning.
Sign Up Now
For Email Marketing you can trust.

Continue The Conversation

  • Email
  • Facebook
  • RSS
  • Twitter

Recent Comments

  • Lyn Light Geller on Being Heard: What We Owe Jewish Community Professionals
  • Sheila Katz on The Unfinished Work of Inclusion
  • Sarah Schuminsky on The Unfinished Work of Inclusion
  • Paul F. Resnick on Toward a Strategic Philanthropic Approach to Field Building
  • michael shire on The Big Jewish Question On My Mind:
    Where Am I Complicit in Perpetuating Bias?

Most Popular Recent Posts

  • BBYO receives historic $25 million Pledge to Support Women’s Leadership and Empowerment
  • Words to Avoid – 2019 Edition
  • Being Heard: What We Owe Jewish Community Professionals
  • Redefining Jewish Education: Federations’ Goals for a New Century
  • Caregiving – The Big Issue No One is Talking About

Categories

Archives

Footer

What We Do

eJewish Philanthropy highlights news, resources and thought pieces on issues facing our Jewish philanthropic world in order to create dialogue and advance the conversation. Learn more.

Top 40 Philanthropy Blogs and Websites to Follow in 2019

Copyright © 2019 · eJewish Philanthropy · All Rights Reserved