Reuters: Bankruptcy News: UPDATE 1-MF Global trustee, CME reach $130 million pact

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UPDATE 1-MF Global trustee, CME reach $130 million pact Jun 14th 2012, 14:52 Thu Jun 14, 2012 10:52am EDT WASHINGTON, June 14 (Reuters) - James Giddens, the trustee liquidating MF Global's broker-dealer unit, said on Thursday he has reached an agreement for CME Group to return $130 million to former commodity customers of the failed brokerage. The accord must be reviewed by the bankruptcy court and will only be implemented after approval, Giddens said in a statement. "In total, the agreement provides for the disposition of over $175 million in MFGI property currently held or controlled by CME Group," the statement said. The $130 million will be split between customers trading on domestic and foreign exchanges, he said. CME did not immediately respond to a request for comment. Last week, Giddens said he was in negotiations to recover $175 million controlled by CME, which was MF Global's primary regulator. A hearing on the agreement is scheduled for July 11.

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