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NEW YORK — The trustee overseeing the liquidation of Bernard Madoff Investment Securities LLC will receive $28 million from a Bank of New York Mellon Corp. account to help cover related expenses.

According to the Associated Press, Irving Picard, the trustee, said the $28.1 million is needed to cover employee salaries and other costs. U.S. Bankruptcy Judge Burton Lifland approved the transfer on Dec. 30. BNY Mellon had previously transferred nearly $883,000 for additional liquidation expenses, the news wire reported.

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