Aurelius Jumps Into JPMorgan-MF Global Fight

Feb 27 2013 | 12:36pm ET

Aurelius Capital Management is backing JPMorgan Chase's bid to seek nearly $1 billion from collapsed futures brokerage MF Global Holdings.

The activist hedge fund on Monday asked a bankruptcy court to allow the bank to seek $928 million in claims in an effort to recover money for creditors of an MF Global subsidiary. Aurelius said JPMorgan's suit is necessary "to avoid unduly prejudicing Finco's estate and its creditors," and because MF Global itself is conflicted.

The filing Monday puts Aurelius on collision course with three hedge funds who have filed their own creditor-payback plan, one that would favor customers over creditors of the holding company. Aurelius and JPMorgan also argue that the $928 million in claims are double-counted in that plan, filed last month by Cyrus Capital Partners, Knighthead Capital Management and Silver Point Capital.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR