MF Global Inc. Trustee James Giddens announced an agreement to cooperate and participate in an already pending lawsuit against former MF Global CEO Jon Corzine, CFO Henri Steenkamp, COO Bradley Abelow, General Counsel Laurie Ferber, and other former officers and directors of MF Global.
By partnering with the lawsuit already in progress, the court documents assert Giddens will be able to recover the most possible funds to distribute to clients in the least amount of time and with the lowest cost to the MF Global estate. Giddens calls this approach the “most cost-effective, efficient, and equitable manner possible for the benefit of all of MFGI’s customers while conserving resources for the benefit of all of MFGI’s customers and creditors.”
The motion is pending approval by the bankruptcy court.