Reuters: Bankruptcy News: Judge approves interim payment for Peregrine bankruptcy trustee

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Judge approves interim payment for Peregrine bankruptcy trustee Apr 17th 2013, 16:21 CHICAGO, April 17 | Wed Apr 17, 2013 12:21pm EDT CHICAGO, April 17 (Reuters) - The trustee in charge of returning funds to customers of scandal-ridden Peregrine Financial Group will receive an initial payment of $1.23 million for his role in unwinding the failed brokerage, U.S. Judge Carol Doyle ruled Wednesday. U.S. bankruptcy code allows for the court-appointed trustee, Chicago lawyer Ira Bodenstein, to receive a commission of up to 3 percent of the $123.3 million that has been returned to former brokerage customers. The returned monies represents less than one-third of the funds customers had deposited with the futures broker when the firm collapsed and the accounts were frozen last July. (Reporting by P.J. Huffstutter, writing by Julie Ingwersen; Editing by Bernard Orr)

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