US Trustee Objects to MFG Plan
Fri Feb 8, 2013 03:02 PM CST

(Dow Jones) -- A federal bankruptcy watchdog is objecting to the liquidation plan for MF Global's holding company, claiming the hedge funds behind the proposal haven't explained the benefits they are receiving from the plan.

U.S. Trustee Tracy Hope Davis said Thursday in court papers that MF Global Holdings Ltd.'s (MFGLQ) plan outline doesn't explain why fees and expenses of the firms--led by Silver Point Capital LP, Cyrus Capital Partners LP and Knighthead Capital Management LLC--should be paid by the bankruptcy estate.

Ms. Davis, the Justice Department official who patrols the bankruptcy-court system, also took issue with a provision of ...

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