Ex-Customers Lose Bid For Power In MF Global Liquidation

Law360, New York (November 22, 2011, 9:21 PM EST) -- A New York bankruptcy judge on Tuesday shot down a bid by some of the 38,000 former commodity customers of MF Global Inc. for official representation in the liquidation of the failed broker-dealer, saying nothing in the law or Bankruptcy Code allowed it.

U.S. Bankruptcy Judge Martin Glenn denied a motion by a group of former customers who implored him to either appoint an official creditors committee or let them elect one, because neither the rules governing bankruptcy procedures nor the Securities Investor Protection Act gave...
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