MF Global Inc. Trustee commences final distribution to unsecured creditors


James W. Giddens, Trustee for the liquidation of MF Global Inc. (MFGI), the ill-fated brokerage that went insolvent in 2011, on Tuesday initiated the final, cumulative 95% distribution on all non-affiliate, non-subordinated, allowed general unsecured creditor claims.

The announcement comes after on August 19, 2015, a Bankruptcy court approved the distribution.

The final payment on non-affiliate, non-subordinated, allowed general unsecured creditor claims is worth approximately $40.9 million, which takes the overall amount distributed to MFGI creditors to about $1.04 billion.

“I am very pleased to initiate the final distribution of the MF Global Inc. liquidation proceeding today,” Giddens said. “When this distribution is complete, unsecured creditors will have received a near full recovery, while customers and secured creditors are already completely satisfied.”

Once the final unsecured creditor distribution is complete, the Trustee will have distributed more than $8.1 billion to MFGI customers and creditors.

The Trustee notes that claims against former officers, directors and other employees of MF Global, including former MF Global CEO Jon Corzine, are ongoing in the Multidistrict Litigation.

To view the official announcement, click here.

Related News

arrow

MF Global Inc. Trustee commences final distribution to unsecured creditors

5

Send this to a friend

Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: