MF Global Parent Answers JPMorgan Objections to Liquidation
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MF Global Holdings Ltd.’s trustee amended an information document to address objections of JPMorgan Chase & Co. and other parties ahead of an April 5 hearing on a liquidation plan.
Trustee Louis Freeh, unwinding the parent of the failed brokerage formerly headed by Jon Corzine, joined a creditor group including Citigroup Global Markets Inc. and Silver Point Capital LP and proposed to distribute as much as 34 cents on the dollar to unsecured claimholders. JPMorgan, which arranged a $1.2 billion loan for the defunct holding company, said a change in liability for the loan might bring creditors almost 60 cents on the dollar.