MF Global Holdings Ltd.OTC Markets
MFGLQ is defunct.
  • Jun. 5, 2013, 5:46 AM

    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.

    | Jun. 5, 2013, 5:46 AM | 3 Comments
  • Apr. 5, 2013, 5:27 AM
    Louis Freeh, the bankruptcy trustee for MF Global's (MFGLQ.PK) parent company, has blasted Jon Corzine and other senior executives for the "negligent conduct" that led to the firm's collapse. In a report, Freeh also criticized the men for their "risky business strategy" and for "the company's inadequate systems." However, Freeh didn't use the word criminal, nor did he focus on the disappearance of customer money.
    | Apr. 5, 2013, 5:27 AM | 1 Comment
  • Dec. 5, 2012, 5:42 AM
    Of over 28,000 claims filed by the customers of MF Global's (MFGLQ.PK) futures brokerage unit, all but 200 have been resolved, James Giddens, the trustee supervising the liquidation of unit, said yesterday. A resolved claim means that the trustee and client have agreed over how much should be paid. Giddens expects to resolve the rest of the claims in the next few months.
    | Dec. 5, 2012, 5:42 AM
  • Nov. 27, 2012, 4:53 AM

    The Commodity Customer Coalition, which represents a group of former trader customers who lost money when MF Global (MFGLQ.PK) collapsed, yesterday asked a court for permission to subpoena Jon Corzine, CFO Henri Steenkamp, former Treasurer Edith O'Brien and others. However, Judge Martin Glenn, who is overseeing MF's liquidation, has already denied a similar request from another former client.

    | Nov. 27, 2012, 4:53 AM
  • Nov. 15, 2012, 6:36 AM

    A House committee puts the blame squarely on Jon Corzine for the collapse of MF Global and its "failure to protect customer funds." However, in a report that's due to be released today, Corzine is not accused of breaking the law. While the panel's Republicans lead the attack on Corzine, the Democrat members decline to endorse the report, saying they want more time to study its conclusions.

    | Nov. 15, 2012, 6:36 AM | 1 Comment
  • Sep. 13, 2012, 5:38 AM

    Jon Corzine met Justice Department investigators last week over the $1.6B in client cash that went missing when MF Global (MFGLQ.PK) collapsed, the WSJ reports. Assistant treasurer Edith O'Brien is still refusing to talk until she gets immunity from prosecution.

    | Sep. 13, 2012, 5:38 AM | 5 Comments
  • Aug. 30, 2012, 4:51 AM
    Louis Freeh, the trustee for MF Global's (MFGLQ.PK) parent company, yesterday called on the firm's other bankruptcy administrators in the U.S. and U.K. to come to a "global resolution" with him over getting money back for creditors and clients rather than going through costly and time-consuming litigation.
    | Aug. 30, 2012, 4:51 AM
  • Aug. 16, 2012, 4:30 AM
    Authorities are unlikely to file criminal charges against Jon Corzine and other top MF Global execs after concluding that weak risk controls and chaos rather than fraud led to the disappearance of around $1B in customer money, the NYT reports. Regulators are still mulling civil action, while Corzine & Co. also face client lawsuits, which bankruptcy trustee James Giddens has agreed to co-operate with.
    | Aug. 16, 2012, 4:30 AM | 31 Comments
  • Aug. 10, 2012, 5:42 PM

    A bankruptcy judge has cleared CME's plan to pay $130M to the trustee responsible for liquidating MF Global (MFGLQ.PK), which in turn will pay customers and other creditors. Distributions covering 80% of the funds missing from commodity customer accounts are set to be made, though the trustee estimates there's still a $1.6B gap between available and owed money. (previous)

    | Aug. 10, 2012, 5:42 PM | 2 Comments
  • Aug. 1, 2012, 4:27 AM

    MF Global Holdings' brokerage clients will eventually get their money back, predicts Louis Freeh, the trustee carrying out the parent company's liquidation. Freeh made the forecast about the $1.6B that went missing in written testimony for a Senate hearing that is scheduled for today.

    | Aug. 1, 2012, 4:27 AM | 1 Comment
  • Jun. 14, 2012, 10:30 AM

    CME Group (CME) agrees to return $130M in property for the benefit of MF Global's (MFGLQ.PK) former commodity customers, says James Giddens, the trustee for the bankrupt firm's broker-dealer unit. The deal will be implemented after the approval of the bankruptcy court. (More on MF Global)

    | Jun. 14, 2012, 10:30 AM
  • Jun. 12, 2012, 4:38 AM
    Loophole of the day: Most of the senior execs at MF Global weren't registered with commodities regulators and therefore can't be charged with supervision failures related to the firm's collapse.
    | Jun. 12, 2012, 4:38 AM | 1 Comment
  • Jun. 5, 2012, 5:49 AM
    MF Global Holdings Ltd. (MFGLQ.PK) could be liable for over $3B in claims, Louis Freeh, the trustee who is supervising its unwinding, said in an update report. Freeh's review adds to one from the trustee of MF's broker-dealer unit, James Giddens, who yesterday said he might sue Jon Corzine and co. for negligence and breach of duties to customers.
    | Jun. 5, 2012, 5:49 AM | 1 Comment
  • Jun. 4, 2012, 10:53 AM

    MF Global (MFGLQ.PK) trustee James Giddens slams Jon Corzine and the firm's management in a report on its downfall, saying that Corzine, CFO Henri Steenkamp and Assistant Treasurer Edith O'Brien are vulnerable to "claims for breach of fiduciary duty and negligence." Giddens may sue JPMorgan (JPM) for its role and he's probing the DTCC's conduct.

    | Jun. 4, 2012, 10:53 AM | 3 Comments
  • Jun. 3, 2012, 3:48 AM

    JPMorgan (JPM) has returned ~$600M that it held when MF Global (MFGLQ.PK) failed, the WSJ reported late Friday, adding that the bankruptcy trustee representing customers may chase the bank for another several hundred million dollars. The trustee is due to provide details tomorrow about what happened to the missing client cash.

    | Jun. 3, 2012, 3:48 AM | 5 Comments
  • May 18, 2012, 4:15 PM
    JPMorgan agrees to return about $168M in cash to the trustee for MF Global, according to a statement from the trustee, Louis Freeh.  The $168M is the "excess collateral JPM held at the beginning of MF's liquidation.
    | May 18, 2012, 4:15 PM | 1 Comment