The trustee liquidating Bernard Madoff’s firm is seeking to recover hundreds of millions of dollars from three Swiss banks and a Belgian bank, according to media reports.

The trustee liquidating Bernard Madoff’s firm is seeking to recover hundreds of millions of dollars from three Swiss banks and a Belgian bank.

Irving Picard, the trustee, has filed new lawsuits seeking $354.9 million from EFG Bank and $179.4 million from Lombard Odier Darier Hentsch & Cie, according to Reuters.

EFG International said in a statement today that it had been “advised by various media organizations” of potential legal action against its subsidiary, seeking around $350 million, but did not elaborate.

“EFG Bank has not yet been served with any such claims and it is EFG International's policy not to comment on litigation.”

Lombard Odier & Cie said today that it "categorically contests the lawsuit filed by Mr. Picard and will use all legal means at its disposal to do so."

The sums sought from Lombard Odier & Cie relate to payments it allegedly received in its capacity as depository bank on behalf of clients who sold shares in 'Madoff feeders' Fairfield Sentry, Fairfield Sigma and Kingate Global.

"Lombard Odier & Cie did not recommend any of the funds managed by Mr Madoff’s company, nor the feeder funds, as part of its investment policy. Investments in funds exposed to Madoff were made by individual clients or third-party managers. In this context, the role of Lombard Odier & Cie is limited to that of a depository bank, holding deposits on behalf of its clients," the bank said.

In other developments, Picard has also filed a complaint seeking to recover over $108 million from Banque Degroof Bruxelles, its affiliates, and a number of “related entities and individuals,” according to a statement on the trustee’s website. Banque Degroof had not responded to a request for comment at the time of publication.

Additionally, he filed a complaint against Banque Cantonale Vaudoise, a Swiss cantonal bank, seeking $9.8 million.

Picard has so far recovered or reached agreements to collect over $9 billion, according to a statement dated 1 June. Customers have received around $1.1 billion of this to-date, including around $800 million in Securities Investor Protection Corporation advances. The rest of the money is tied up until certain appeals are resolved.