FARM BUSINESS NEWS
MFG Clients to Get 100% Payback
Wed Nov 6, 2013 07:42 AM CST

NEW YORK (Dow Jones) -- A bankruptcy judge on Tuesday cleared MF Global Inc. to pay back 100% of the money owed to its U.S. and overseas commodity customers, a watershed moment in the collapsed brokerage firm's Chapter 11 case.

"I don't know of anyone who thought when the case started that the foreign and domestic commodity customers would be looking at 100 percent recoveries," said Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan.

James W. Giddens, the trustee unwinding MF Global's brokerage, won approval to allocate about $305 million from his coffers into an account that would pay ...

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