MF Global funds are all accounted for, lawyer tells judge

Nov. 2 (Bloomberg) -- MF Global Holdings Ltd., run by former New Jersey governor and Goldman Sachs Group Inc. co- chairman Jon Corzine, has accounted for all its customer funds, said Kenneth Ziman, a lawyer for MF Global, citing the company’s management.

“To the best knowledge of management, there is no shortfall,” Ziman told U.S. Bankruptcy judge Martin Glenn in Manhattan, who inquired about whether a shortfall in customer accounts would affect the case, citing media reports that hundreds of millions of dollars were missing. Most of MF Global’s U.S. assets are held at its brokerage unit, Ziman said.

The brokerage unit is not part of the main bankruptcy case, in which creditors are trying to recover on their claims against the company. The Securities Investor Protection Corp. has appointed a trustee to liquidate the assets in the brokerage.

MF Global funds are all accounted for, lawyer tells judge

Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome