Reuters: Bankruptcy News: KPMG expects increased payments to some MF Global UK clients

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KPMG expects increased payments to some MF Global UK clients Jan 8th 2013, 15:13 LONDON | Tue Jan 8, 2013 10:13am EST LONDON Jan 8 (Reuters) - KPMG, the administrator to collapsed broker MF Global UK said on Tuesday it expected to be able to increase payments to clients with segregated accounts to around 60 cents in the dollar, up from 26 cents. This followed an agreement between the British affiliate and parent company MF Global Holdings in December, and is conditional on a number of factors, including approval by the U.S. Bankruptcy Court. The administrator also said the agreement meant it expected to make an initial payment of around 20 pence in the pound to unsecured creditors.

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