MF Global Parent Creditors Clash With Brokerage Customers
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Creditors of bankrupt MF Global Holdings Ltd. are clashing with customers of the MF Global Inc. brokerage over assets as each side seeks more money for itself.
Creditors of the parent company formerly run by Jon Corzine yesterday faulted the brokerage trustee James Giddens for planning to distribute $2.1 billion to customers without verifying that the customers are entitled to receive the funds. Separately, brokerage customer Sapere Wealth Management LLC asked a federal judge yesterday to rearrange MF Global Holdings’ bankruptcy so commodity customers of its brokerage get priority for their claims.