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Trustee Wants to Return More to MF Global Clients

The trustee overseeing the liquidation of MF Global is asking for permission to distribute another $685 million to the failed brokerage’s customers.

MF Global
Mario Tama, Getty Images

James Giddens filed the request Thursday in the U.S. Bankruptcy Court in New York. He has already given back $3.9 billion to MF Global customers. In his latest request, the trustee asks the court for permission to distribute up to $600 million to customers who traded commodity futures on U.S. exchanges.

He also seeks permission to give $50 million to customers who traded on foreign markets, the first such payment to those trading on foreign exchanges. Another $35 million would be returned to owners of physical property.

MF Global, headed by former Goldman Sachs CEO Jon Corzine, filed for bankruptcy Oct. 31.

A federal grand jury in Chicago is investigating how $1.6 billion went missing at the firm.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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