Authorities were only alerted to the alleged Madoff scheme in December, and it could be years before the bankruptcy trustee liquidating Madoff's investment business determines what individual investors will recover, and hence, (as the IRS sees it) what their deductible losses are.

FORBES: Magazine Article

Americans running distressed-securities investment boutiques pressed the trustee to sue its half-owner over the collateral guarantee.

FORBES: Chinese walls, European-style

The trustee handling the liquidation of the collapsed US investment bank Lehman Brothers has taken legal action against Citibank.

BBC: Lehman trustee is suing Citibank