Thursday, 26 November 2015
Last updated 11 hours ago
Feb 1 2013 | 11:58am ET
More than a year after futures brokerage MF Global collapsed, its hedge fund customers and other clients will finally to be paid—and may actually recoup all of their funds.
A U.S. Bankruptcy Court judge yesterday approved a settlement between the two trustees overseeing MF Global's liquidation. The deal means that most customers will get 93% of their money back.
James Giddens, the trustee seeking recoveries for U.S. customers, had originally suggested that only 80% would be recovered. With the agreement, there is a prospect that Giddens, who is still seeking recoveries from others, could make MF Global's customers whole.
A spokesman for Giddens said that "significant distributions" would begin within weeks.
U.S. Bankruptcy Judge Martin Glenn praised the agreement, which he said "puts to rest a complex and expensive dispute that has held up the distribution of a substantial amount of funds."
Customers who traded on U.S. exchanges will get between 75% and 82% of their money back.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…