Reuters: Bankruptcy News: MF Global trustee recovers $168 mln from JPMorgan

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MF Global trustee recovers $168 mln from JPMorgan May 18th 2012, 19:58 Fri May 18, 2012 3:58pm EDT May 18 (Reuters) - The trustee for MF Global Holdings Inc's brokerage unit said he has received $168 million in cash from JPMorgan Chase & Co, which had been the commodities and futures brokerage firm's main bank prior to its October bankruptcy. James Giddens, the trustee for the MF Global Inc unit, said the money represents proceeds of excess collateral that the largest U.S. bank held when the unit began to liquidate. He said the payment will help his efforts to return money to former MF Global customers, and that he remains in talks with JPMorgan on other claims. An estimated $1.6 billion of customer funds has disappeared from MF Global, which had been run by Jon Corzine, a former New Jersey governor and senator.

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