MFGI judge rules against customer committee

MF Global Holdings bankruptcy judge Martin Glenn denied a motion to authorize the appointment of an official Committee of Commodity Broker Customers and approving compensation of allowed fees and expenses of committee professionals.

The Commodity Customer Coalition (CCC) has been arguing since its formation that customers should have a seat at the table. In denying the motion Judge Glenn stated that the court did not have the authority to appoint such a committee and if it did, he would not authorize it.

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