Thursday, 18 September 2014
Last updated 12 hours ago
Oct 4 2013 | 10:36am ET
The MF Global Holdings liquidator hopes to make the failed futures brokerage's U.S. customers whole by the end of the year, more than two years after its collapse.
James Giddens yesterday sought a federal bankruptcy judge's approval for a plan to pay customers of the brokerage with money currently allocated to unsecured creditors. Should permission be granted, it would "allow every one of the more than 26,000 former customers of MFGI with allowed net equity claims to be paid in full before the end of the calendar year," Giddens' lawyers said in a court filing.
About $1.6 billion disappeared from MF Global's customer accounts in the days prior to its October 2011 implosion. Customers who traded on U.S. exchanges have already received 98% of their money back, and customers trading on foreign exchanges 74%.
Objections to the reallocation, should it be approved, will be permitted until Oct. 16.
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…
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