Tuesday, November 5, 2013

Payback of MF Global Customers Approved


By Dow Jones Business News,  November 05, 2013, 05:35:00 PM EDT

NEW YORK--A bankruptcy judge on Tuesday cleared MF Global Inc. to pay back 100% of the money owed to its U.S. and overseas commodity customers, a watershed moment in the collapsed brokerage firm's Chapter 11 case.

"I don't know of anyone who thought when the case started that the foreign and domestic commodity customers would be looking at 100% recoveries," said Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan.

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