The latest news on the MF Global bankruptcy and fallout, published in the John Lothian Newsletter (subscribe here) the morning of November 30, 2011.

In the wake of the MF Global bankruptcy, John Lothian Newsletter has created a special section on JohnLothianNewsletter.com devoted to news, information and commentary. The section features archived news stories featured in the John Lothian Newsletter, analysis and breaking news. Check regularly for updates. See the MF Global news section here.

Details Emerge on MF Global’s Last-Ditch Effort to Fill Shortfall
By BEN PROTESS and MICHAEL J. DE LA MERCED – NY Times
After MF Global discovered a nearly $1 billion shortfall in customer money in the early hours of Oct. 31, the brokerage firm lined up a last-ditch — but ultimately unsuccessful — effort to fill the hole, according to people briefed on the matter.
http://jlne.ws/rE0iod

MF Global Trustee Seeks Third Transfer Of Customer Funds
By Jacob Bunge Of DOW JONES NEWSWIRES
The trustee liquidating the brokerage arm of MF Global Holdings (MFGLQ) on Tuesday sought to release a third wave of customer money that would return funds to clients who have yet to be reunited with their money, and get more back to other customers.
http://jlne.ws/ttbH2Q

MF Global trustee seeks to pay out $2.1 billion more
Reuters
The trustee liquidating MF Global Holdings’ broker-dealer unit asked a federal bankruptcy judge to authorize the distribution of as much as $2.1 billion to about 36,000 former commodities customers, roughly doubling the total payout to $4.1 billion.
http://jlne.ws/tNJ8wv

MF Global sells exchange seats, cuts ties to grains
By Tom Polansek – Reuters
(Reuters) – MF Global Holdings Ltd. on Tuesday cut some of its last ties to the grain markets that it once dominated, shedding memberships at the Kansas City exchange and possibly at the Minneapolis exchange.
http://jlne.ws/tSqzAo

MF Global Holdings Plans To Cut 212 Employees By Dec 31 -NY Labor Dept Filing 
By Jacob Bunge Of DOW JONES NEWSWIRES
The holding company of collapsed broker-dealer MF Global Holdings Ltd. (MFGLQ) intends to terminate 212 employees by the end of the year, according to a notice filed with the New York State Department of Labor on Tuesday.
http://jlne.ws/v57NEc

LCH.Clearnet completes MF Global UK transfers
By Philip Stafford – Financial Times
LCH.Clearnet, the London-based clearing house, confirmed on Tuesday it had moved virtually all of the positions its customers held with MF Global’s UK arm to new brokers in a move likely to help a partial return of client funds.
http://jlne.ws/ueiGrA

LCH.Clearnet: update on MF Global default
Press Release
The clearing houses of the LCH.Clearnet group (LCH.Clearnet) have today updated clients on the progress of the resolution of the MF Global UK Ltd’s (MF Global) default:
http://jlne.ws/tYcRQh

MF Global UK Limited: Administration Update
Press Release
Richard Fleming, Richard Heis and Mike Pink of KPMG LLP, the Joint Special Administrators of MF Global UK Limited, have announced today a timeline for the return of client money and client assets. MF Global UK Limited customers with claims against funds in the client money pool and/or with claims against client assets can complete and submit a claim form from Thursday 8th December. All claims against client assets and the client money pool are requested to be submitted by Friday 30th March 2012. There is no bar date (as provided for in the special administration regime) set at this stage for claims against client assets.
http://jlne.ws/rt0j1l

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