Friday, 27 November 2015
Last updated 1 day ago
Oct 16 2013 | 10:11am ET
Calling former MF Global Holdings CEO Jon Corzine's legal bills "exorbitant," the court-appointed trustee for the collapsed futures brokerage has opposed his request for more insurance money to cover them.
Nader Takavoli told U.S. Bankruptcy Judge Martin Glenn that he should reject the bid from Corzine and other former MF Global executives facing lawsuits for an additional $10 million. Glenn blocked the request last month to give an MF Global customer's appeal a chance to be heard.
For their parts, Corzine and his former colleagues have asked Glenn to reconsider.
That is something he should definitely not do, Takavoli wrote.
"From February through September 2013, defense fees incurred to date exceed $40 million, a figure that has never been adequately explained or justified, and which suggests duplication of efforts among the Individual Insureds' professionals," he wrote Friday.
Corzine and the others face nearly two dozen lawsuits stemming from MF Global's collapse two years ago.
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…