MF Global Holdings' (MFGLQ.PK) trustee, Louis Freeh, yesterday stepped down and handed the job...

|About: MF Global Holdings Ltd. (MFGLQ)|By:, SA News Editor

MF Global Holdings' (MFGLQ.PK) trustee, Louis Freeh, yesterday stepped down and handed the job of liquidating the firm's estate to a three-member board, essentially ending the company's bankruptcy process. While the plan was approved in April, it could only go into effect when certain conditions were met, with one being that the estate would have enough money to pay its liabilities. Customers at MF Global's brokerage are expected to receive a full pay out.