Reuters: Bankruptcy News: MF Global customers may see more payback

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

MF Global customers may see more payback Mar 15th 2012, 16:53 March 15 | Thu Mar 15, 2012 12:53pm EDT March 15 (Reuters) - The trustee liquidating MF Global's broker-dealer is asking a bankruptcy court for permission to distribute $600 million to U.S. exchange customers whose accounts were frozen when the futures brokerage went bankrupt. In court papers filed on Thursday, trustee James Giddens said he would also seek to distribute as much as $50 million to customers who traded on foreign exchanges, and $35 million to some customers who hold physical property such as gold bars. U.S. customers have already received payouts of about 72 percent of the value of their accounts, but foreign exchange customers have received no recovery. The broker-dealer's parent, MF Global Holdings Ltd, went bankrupt on Oct. 31.

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