JPMorgan Chase & Co., the largest U.S. bank, is poised to more than double the value of its investment in London Metal Exchange shares bought seven months ago from the U.K. unit of bankrupt MF Global Holdings Ltd.
In a court filing today, MF Global Inc. (MFGI) Trustee James Giddens said CME Group has agreed to hand over more than $175 million to the trustee, the majority of which is earmarked to be returned to customers.
MF Global Holdings Ltd. may have more than $3 billion of claims against its affiliates and units, the company’s bankruptcy trustee said in a report detailing the progress of an investigation into its collapse.
After six months, Rep. Michael G. Grimm (R-N.Y.) and the Commodity Customer Coalition (CCC) have called on Attorney General Eric Holder to appoint an independent counsel to take over the investigation.
MF Global Holdings Ltd. still can’t trace where some of the money went when its brokerage collapsed, including $1 billion that “vanished” into the brokerage unit MF Global Inc., an attorney told a bankruptcy court.