Friday, 29 August 2014
Last updated 32 sec 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...