MF Global Execs Can Tap Insurance For Defense Costs

Law360, New York (April 10, 2012, 10:54 PM EDT) -- A New York bankruptcy judge on Tuesday ruled that executives of fallen brokerage MF Global Inc., including ex-CEO Jon Corzine, could tap up to $30 million in insurance coverage for the costs of defending themselves in several class actions launched by former customers and shareholders.

U.S. Bankruptcy Judge Martin Glenn lifted the automatic stay to allow U.S. Specialty Insurance Co. and MFG Assurance Company Ltd. to reimburse and advance defense costs for current and former MF Global executives under various directors and officers and errors and...
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