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MF Global commodity trader customers to get all their money back
The trustee of MF Global's defunct brokerage received approval from a bankruptcy judge on Tuesday for a plan that will repay its former commodity trader customers in full. The move, approved by Judge Martin Glenn at a hearing in U.S. Bankruptcy Court in Manhattan, will repay customers by reallocating to them some funds initially earmarked for non-customer unsecured creditors, Kent Jarrell, the trustee's spokesman, said on Tuesday. The ruling comes just after the two-year anniversary of the $40 billion collapse of MF's parent company, which was run by former New Jersey Governor and ex-Goldman Sachs chairman Jon ... (full story)
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