Wednesday, August 1, 2012

MF Global Corporate Trustee Sees All Customer Funds Returning

From Reuters via the Chicago Tribune:
The trustee overseeing the liquidation of failed futures brokerage MF Global's parent company expressed hope on Wednesday that customers who had faced an up to $1.6 billion shortfall in funds would eventually be returned all of their funds.

In prepared testimony before the Senate Agriculture Committee, Louis Freeh -- who is responsible for winding down the parent company, but is not leading efforts to recoup missing funds from the brokerage division -- said he is confident that "all of the customers of MF Global Inc eventually will be made whole."...MORE