MF Global Trustee Freeh Steps Down

Jun 6 2013 | 10:37am ET

Former Federal Bureau of Investigation Director Louis Freeh's work as bankruptcy trustee for MF Global Holdings is done.

Freeh formally ended his role in the collapsed futures brokerage's liquidation on Tuesday, transferring his responsibilities to a new three-person board of directors. Control over outstanding lawsuits—including against former MF Global CEO Jon Corzine—was transferred to a litigation trust.

Freeh's exit comes after a deal with MF Global's hedge fund creditors, which was approved by a bankruptcy court in April, and agreements last year with two other bankruptcy administrators.

"I am confident the liquidation process can be effectively administered to the satisfaction of creditors," Freeh said.

MF Global collapsed in October 2011 after more than $1 billion in customer money went missing.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...