MF Global Holdings Trustee Louis Freeh has agreed to release documents dating back to Oct. 17 related to the MF Global bankruptcy. Freeh previously had refused to release such documents citing attorney-client privilege.
The order acknowledged that the bankruptcy court, “determined that it is in the public interest for the documents, communications and information concerning [MF Global Holdings] be made available to the SIPA trustee." It also noted the various other agencies and departments including the Commodity Futures Trading Commission, the Securities and Exchange Commission, the United States Attorneys' Offices for the Southern District of New York and Congress [are]investigating the matter.
“We have been working with the MF Global Holdings trustee since December to get these results ,” says MF Global Inc. trustee spokesman Kent Jarrell. “We applaud the decision, this will help all of the investigations into the demise of MF Global.”
Jarrell went on to say that that they have had access to a lot of the material they needed to investigate but other groups may be examining other aspects of the case. “ Our investigation is primarily interested in trading and customer property,” Jarrell says.
The CFTC is investigating regulatory abuses among other things anf the Department of Justice is looking at criminal activity.
Freeh’s refusal to release material was seen by many as a needless delay and spurred one private lawsuit seeking general discovery. In refusing that discovery motion, the bankruptcy judge cited the fact that there was a criminal investigation under way.