NEWS
MF Global Legal Costs Soar
Mon Jun 3, 2013 01:05 PM CDT

(Dow Jones) -- The legal bills for former leaders of MF Global Holdings Ltd. are nearing $30 million, court papers say, and bankruptcy trustees have agreed to add another $10 million to the defense fund.

Chapter 11 trustee Louis J. Freeh and James W. Giddens, the trustee unwinding the brokerage's affairs in a special securities liquidation proceeding, filed papers Friday asking a bankruptcy judge to let sued leaders tap as much as $40 million of the failed brokerage's insurance coverage to pay the lawyers defending them.

Judge Martin Glenn last year authorized MF Global's executives to send up to $30 ...

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