Madoff trustee Irving Picard either is a man possessed or someone who's playing into a hotstreak in court.  Just last week he sent out another salvo in his fight to recover investor funds, suing 7 companies for $174mn - including Singapore's Lion Globa Investors, which was sued for a $51mn, and BVI's Quilvest Finance, which faces a $38mn claim.

It's a shift back into fund recovery for Picard, who a week or so ago got an important win regarding his calculation of investors' losses.  Picard has sought to only return the funds that were initially invested, and not any perceived gains or interest investors may have received during the course of Madoff's Ponzi scheme. An appeals court ruled that Picard's metric is both legal and fair.   [Reuters, 8/18/11]