Madoff Victim Fund Information

MVF's ability to make future payments will depend on the timing and amount of final action on all remaining pending claims, RFRs, and resolution of the holds that have led to committed funds. MVF expects a further significant reduction in RFRs and pending claims throughout the balance of 2019. When a pending claim or an RFR is approved, a portion of our future payment reserves will go to paying the newly approved claim. The balance, after taking into account collateral recoveries, will be released to fund more payments to every victim. Similarly, as claims or RFRs are denied, the entire previously reserved amount becomes available for an increased payout to all victims. Based on our experience, we know that our reserves will only be partly used to fund newly approved claims, and other amounts will become available to pay all other claims. MVF also believes that a number of the held vehicles will be resolved in coming months, which will also result in the release of some committed funds. This process of releasing future payment reserves when they are no longer necessary enabled us to pay an additional 10.2% in D4. However, the future payment reserves have now been reduced by more than 60%, so the release of future reserves is likely to be smaller. We hope that the funds distributed in D4, as in our prior distributions, significantly benefit those whose money was stolen and their families. Our work to increase payout percentages for victims will continue, and we are committed to updating you on our progress. All of us at MVF are thankful that we have had the opportunity to deliver billions of dollars to victims worldwide. We will continue to do everything possible to make a positive difference in the lives of every Madoff victim.