The latest news on the MF Global bankruptcy and fallout, published in the John Lothian Newsletter (subscribe here) the morning of December 7, 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.
CFTC aims to find MF Global money ‘shortly’
WASHINGTON (MarketWatch) — The Commodity Futures Trading Commission is aiming to find the missing account money from MF Global “very shortly,” according to the regulator who is leading the agency’s investigation. “The number of different account and transactions has made this complex problem for our staff and forensic accountants, but we all are working through this issue and hope to resolve …
MF Global Parent Creditors Clash With Brokerage Customers
By Linda Sandler – Bloomberg
Creditors of bankrupt MF Global Holdings Ltd. are clashing with customers of the MF Global Inc. brokerage over assets as each side seeks more money for itself.
House Panel Schedules Corzine, Regulators To Testify On MF Global
By Jacob Bunge Of DOW JONES NEWSWIRES
The U.S. House of Representatives Committee on Agriculture released a witness list for a Thursday hearing on the downfall of MF Global Holdings Ltd. (MFGLQ), which includes the firm’s former chief executive Jon Corzine.
MF Global’s Foreign Units Voice Concern Over Customer Transfers
By Patrick Fitzgerald Of DOW JONES DAILY BANKRUPTCY REVIEW
Several of MF Global Holdings Ltd. foreign affiliates are balking at a court-appointed trustee’s proposal to release another $2.1 billion from customers’ frozen accounts. The insolvency professionals overseeing the liquidation of MF Global’s U.K. and Hong Kong brokerage arms are concerned the U.S. trustee’s recent efforts to return cash and property to former customer of the U.S. business will shortchange the claims of foreign customers.
Bank Funds Won’t Cover MF Global Shortfall, Trustee Says
MF Global Inc., the futures brokerage that collapsed on Oct. 31, will have a shortfall in customer funds even if all the money in customer accounts at U.S. depository institutions is recovered, the trustee overseeing the firm’s bankruptcy said.
MarketWatch First Take: Corzine and the top-dog rule
Jon Corzine can rest assured. History suggests his status as the big decision maker gives him great odds of beating troubles that befell MF Global.