LCH, ICE Join MF Global Suit Over $600 Million Collateral
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LCH.Clearnet Group Ltd. and Ice Clear Europe Ltd. today won permission to join a lawsuit between liquidators of two MF Global Holdings Ltd. units over assets worth about $600 million.
MF Global Inc.’s U.S. trustee and administrators of MF Global UK Ltd. are fighting in London over ownership of U.S. Treasury bills sent to the U.K. as collateral against purchases of bonds issued by debt-laden European nations. The clearinghouses said their rights to collateral held against the broker’s proprietary trades were under threat.