According to Trustees Unlimited, the main barrier is the lack of knowledge about trustee vacancies and what the job involves.
Ms. Raab, who was issues director for Mr. Giuliani's 1989 mayoral campaign, is pressing hard for the position, and aides to Mr. Giuliani and Governor Pataki have talked to many of the trustees about supporting her, according to trustees who spoke on the condition of anonymity.
"Not one penny of recovered customer money is used to pay any of the legal fees and expenses incurred by the SIPA trustee," according to the trustee, who was referring to the Securities Investor Protection Act that mandated the SIPC system.
Katz and Wilpon, according to the trustee, structured player contracts to draw out the timing of their payments.
According to the trustee, SIPC may be required to pay about $284 million.
According to the trustee's lawsuit, Mr. Madoff asked that Sterling designate a point person to handle the Sterling accounts.
According to the trustee, Mr. Merkin "willfully blinded" himself to numerous indications that Mr. Madoff was a con man.
That pattern probably stretches back even further, according to the trustee, Irving Picard of the law firm of Baker Hostetler.
But throughout, according to the trustee, Irving H. Picard, Mr. Wilpon and Mr. Katz kept investing with Mr. Madoff, in what the lawsuit calls a "cycle of dependency".
According to the trustee's Web site, two distributions totaling $67.3 million were made Friday to the fund that will repay customers who were defrauded by Madoff.
