MF Global Can Use Disputed JPMorgan Cash: Judge

Law360, New York (December 14, 2011, 2:21 PM EST) -- MF Global Holdings Ltd. won final approval Wednesday from a New York bankruptcy judge to use up to $21 million in cash collateral in an account that former commodity customers say could contain some of their missing $1.2 billion.

U.S. Bankruptcy Judge Martin Glenn overruled an objection in finding that the bankrupt company could tap into MF Global Finance USA Inc.'s $25 million account at JPMorgan Chase Bank NA. Of that total amount, $4 million is being held back as an assurance for JPMorgan, attorneys said....
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