MANHATTAN, New York (Bloomberg) - The assets of Bernard L Madoff Investment Securities LLC that investigators have tracked to Gibraltar are worth about $75 million, a lawyer for a trustee unwinding Madoff's businesses said.

David Sheehan, a lawyer for Irving Picard, who was appointed by the Securities Investor Protection Corp. to unwind Madoff's business, also said at a court hearing today that French authorities may be seeking to seize Madoff's French chateau, which is worth about $1 million.

Picard, a lawyer with Baker Hostetler LLP in New York, is responsible for conducting a broad investigation of the Madoff firm's assets and conduct.

His job is to collect as many assets as possible to pay back creditors of Madoff's trading firm. Mr. Picard said previously he had recovered about $946.4 million in cash and securities for customers.

With the $75 million located in Gibraltar, the assets recovered now top $1 billion, Mr. Sheehan said after court.