The following article is from the NAFB News Service:
Securities Investor Protection Act Trustee James Giddens and MF Global UK Joint Administrator Richard Heis have reached an agreement to return between 500 and 600-million dollars to the MF Global estate. If approved by the U.S. Bankruptcy Court for the Southern District of New York – and conditions are satisfied to make the agreements effective – Giddens expects the agreement between MFGI and MFGUK to result in 100-percent satisfaction of allowed securities customers’ claims and additional distributions to commodities customers who trade on U.S. and non-U.S. exchanges. SIPC President Stephen Harbeck says SIPC looks forward to continuing to work with the trustee and other parties to ensure all conditions are met and the agreements approved by the court. For more information – go to www dot MF Global trustee dot com (www.mfglobaltrustee.com).
Source: NAFB News Service
Posted by Haylie Shipp