One of our constant complaints about how the ongoing investigations in the MF Global scandal has been how regulatory agencies, industry leaders and Congressional committees talk about lessons learned and changes that need to be made as if the issue were resolved
Creditors of MF Global Holdings Ltd. are questioning a $1.6 billion estimate of how much more is required to repay customers of the failed brokerage, their lawyer said in Manhattan bankruptcy court today.
One of the most frustrating aspects of the MF Global debacle for the former customers of the bankrupt futures broker is the process where their advocate—the SIPA appointed trustee—has insisted from the beginning the need for customers to file claims to get their own money
The MF Global Chapter 11 trustee and an insurance subsidiary are battling customer claims to a $120 million insurance policy with the official customer advocate—the MF Global Inc. trustee — standing mostly on the sideline according to customer advocates.
MF Global Inc. Trustee James Giddens has failed to claim $120 million in professional liability insurance due MF Global customers, according to a motion filed on Monday. The MF Global Holdings Ltd. trustee wants those proceeds to pay for the defense of officers with the firm.